Congress has given final approval to the Costa Rica the government for the 2013 budget of $12.908 billion, 7.7% higher than in 2012 and a deficit of 45%, which will be financed with debt.
Friday, November 30, 2012
A statement from the Legislature reads:
The Legislative Assembly also passed with 27 votes from the 46 deputies present in the second debate the regular budget for next year, in archive number 18,554, which is around 6.4 billion colones of which 57% will be financed by fresh income and 43% with debt .
Of the 6.4 billion colones making up the budget, one third is for debt services representing over two billion while social spending is around 4 billion.
The resources allocated to social spending, representing 47%, are for education, social protection, health, housing, among other things, which is the category to which the most amount of money is allocated.
The 2013 budget increased by 7.7% compared with 2012, which according to the Ministry of Finance is lower than in the two previous budgets which were 13.7% and 9.1% in 2011 and 2012, respectively.
Current revenue reached 3.6 billion colones, an increase of 11.7% compared to the increase registered by the Controller General of the Republic in 2012, higher than the growth in spending and depreciation.
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Last year, the Central Government's current expenditures amounted to $6.712 billion, 8.5% more than in 2016, while capital expenditures totaled $3.730 billion, or 6.4% of GDP.
From a statement issued by the Ministry of Finance:
As of December 2017, the total revenues of the Central Government (CG) were B /.
Compared to 2015 the central government's revenue and expenditure grew by 6% and 8%, respectively, and the fiscal deficit was 1.5% of GDP.
From a statement issued by the Ministry of Economy and Finance:
The Ministry of Economy and Finance (MEF) today introduced the Fiscal Balance of the Central Government and Non Financial Public Sector (NFPS) of Panama for December 2016, highlighting an increase of $466 million in tax revenues and savings of $2,530 million in the NFPS.
In comparison to 2015 revenue grew by 9% and expenses by 6%, and total public debt as a proportion of GDP reached 45%.
From a statement issued by the Ministry of Finance:
The figures for income and expenditure of the central government indicate that by the end 2016,the shortfall of government revenue to cover expenses was 5.2% of GDP, less than the 6% calculated at the beginning of the year and less than the amount that was observed in 2015 (5.7%). This result represents a reduction of 2% (equivalent to ¢32 billion) from the deficit of 2015, which makes it the lowest deficit in the last four years.
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