Costa Rica: Fiscal Situation up to May 2019

In Costa Rica, the central government's financial deficit at the fifth month of the year maintained its upward trend as a result of higher interest expenditure and stood at 2.6% of GDP.

Friday, June 14, 2019

While the behavior of the financial deficit is largely due to interest payments, the increase in capital spending also shows significant variation, which translates into better infrastructure conditions needed to facilitate the mobility of goods and people, explains a newsletter from the Costa Rican Ministry of Finance.

The document prepared by the institution explains that the little connection between the most dynamic sectors of the Costa Rican economy and tax collection has been observed for several years. This reaffirms the importance of broadening the value-added tax base to these sectors of the economy.

The newsletter reports that between May 2016 and the same month of 2019, the behavior of the financial deficit has reported a clear upward trend, going from 1.89% to 2.62%.

See full newsletter.

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