No tax reduction in Costa Rica

Guillermo Zuniga, Minister of Finance, has ruled out lowering taxes as a way of stimulating internal production, as this would increase the fiscal deficit.

Tuesday, December 30, 2008

According to nacion.com, "Zuniga prefers to motivate production by increasing public investment, even though he recognizes that the main challenge is to carry out the works as fast a possible.

The increase in spending will also generate a greater deficit, but the advantage, according to Zuniga, is that the works will be financed with external funds.

More on this topic

The Fall of Public Investment in Costa Rica

March 2013

In the past three years, the relationship between spending on infrastructure and equipment for public institutions and the country's national production, fell from 9.4% to 6.1%.

Nacion.com reports that "The Comptroller General's Office warned, in its report on the 2013 public budget, of a reduction facing planned investment in the non-financial public sector in respect to production, especially between 2010 to 2013. "

El Salvador: 2011 Budget is $4.5 Billion

September 2010

Total 2011 budget is $ 4,503.5 million which includes payment of $653.5 million in Eurobonds due in 2011.

Fiscal policy objectives set for fiscal year 2011 are as follows:

Increasing tax revenues by raising tax burden from 14.0% to 14.7% of GDP in 2011, implementing measures aimed at strengthening legal frameworks and the efficiency of the tax system in order to combat tax evasion and smuggling.

Guatemala: Strategy to Increase Investment Unveiled

August 2010

The plan will enable the state to invest more resources in infrastructure, security, human capital and innovation.

The strategy presented by the Guatemala's "National Competitiveness Program" (Pronacom), suggests modifying the country's tax on income (ISR in Spanish) so that more individuals are eligible, as well as bring into force the so-called anti-evasion law (currently in congress).

Fiscal situation worries El Salvador officials

July 2008

The government of El Salvador is proposing to increase the level of public investment.

The nation's fiscal situation is one of the biggest problems the new governemt will face, according to an economic analysis done by Carlos Acevedo, an economist from the United Nations Development Program (UNDP); Roberto Rubio, executive director of the National Foundation for Development; and economist Alex Segovia.

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