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Costa Rica: Fiscal Deficit Closes 2016 at 5.2% of GDP

In comparison to 2015 revenue grew by 9% and expenses by 6%, and total public debt as a proportion of GDP reached 45%.

Friday, January 20, 2017

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.

These figures are a result of the performance of Solis Rivera Administration´s commitment to slowing spending and increasing revenues, with the application of administrative measures by the Ministry of Finance.

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Costa Rica: Tax Panorama - February 2016

March 2016

The 8% growth in total government revenue was not enough to reduce the financial deficit, which at the same period reached 1% of GDP.

From a statement issued by the Ministry of Finance in Costa Rica:

By February 2016, the increase in expense figures was lower than those shown in the growth of tax revenues.

Central America Fiscal Outlook - November 2015

November 2015

While the Northern Triangle countries strive to reduce or at least maintain constant levels of debt / GDP, Costa Rica and Panama move further away from fiscal discipline, the former at the greatest pace.

From the introduction of a report entitled "Macrofiscal Profiles : 4th Edition." by the Central American Institute for Fiscal Studies (Icefi):

Costa Rica: Fiscal Deficit Reaches 4.8% of GDP

November 2015

State expenditures continue to exceed tax revenues while the government cries out for legislative approval of the proposed tax reform.

In October, total revenues amounted to ¢3,241,326 million ($6,047 million), recording a variation of 8.5%, while total expenditures reached ¢4,589,189 million ($8.561 billion), growing 9.6% compared to the same period in 2014.

Panama's Fiscal Deficit

November 2012

The projected deficit in the state budget approved for 2013 is close to the legal limit, and is causing concern in business sectors.

From the Panamanian Association of Business Executives (APEDE):

APEDE concerned about budget deficit in 2013

The Panamanian Association of Business Executives is concerned about the projected budget deficit for 2013, according to figures presented by the Ministry of Finance this week to its membership.