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.
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%.
The government of El Salvador is proposing to increase the level of public investment.
The plan will enable the state to invest more resources in infrastructure, security, human capital and innovation.
Total 2011 budget is $ 4,503.5 million which includes payment of $653.5 million in Eurobonds due in 2011.
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