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

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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

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Costa Rica: Fiscal Deficit Reaches 4.8% of GDP

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Panama's Fiscal Deficit

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From the Panamanian Association of Business Executives (APEDE):

APEDE concerned about budget deficit in 2013

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