Between May 2016 and May this year the primary deficit went from 0.9% of GDP to 1%, while the financial deficit increased from 1.9% to 2.1% in the same period.
Wednesday, June 21, 2017
From a statement issued by the Ministry of Finance:
The primary deficit and the fiscal deficit, which had been similar between 2016 and 2017, show a slight deterioration in May of this year which should draw the attention of all social sectors. The primary deficit went from 0.9% of GDP to 1% from May 2016 to May 2017; While the fiscal deficit went from 1.9% to 2.1% in the same period.
This information is reflected in a report on fiscal figures up to May, released by the Treasury, according to which, contrary to May 2016, when the rate of growth of investment decreased by 32.7%, it showed an increase of 62, 8% in 2017.
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In Costa Rica the 1.7% increase in revenues accumulated up to May was not enough to offset the 8% increase in total expenses.
From a statement issued by the Ministry of Finance:
June 21, 2018.The growth of 1.7% in total income accumulated up to May 2018, is insufficient to offset the variation of 8.1% of total expenses, 48% of which is due to the increase in interest.This behavior generated a primary deficit (difference between current income and total expenditure excluding amortization and interest) in the central government of 1.2% of GDP and a financial deficit of 2.6% of GDP, exceeding the figures observed in the same period in 2017 (1% and 2.2% respectively).
The fiscal deficit closed the first half of the year at 2.4% of GDP, up from 2.2% of GDP in June 2016, mainly due to an increase in the financial cost of debt.
From a statement issued by the Ministry of Finance:
At the end of the first half of 2017, the primary deficit (difference between income and interest-free expenses) remained similar to the previous year, at 0.9% of GDP. The fiscal deficit increased from 2.2% of GDP up to June 2016, to 2.4% of GDP in the same period of the current year, as a result of an increase in the financial cost of debt.
As of October 2016 revenue grew by 8.9% and growth of current expenditure decreased from 7.5% in October 2015 to 3.2% in the same month this year.
From a statement issued by the Ministry of Finance:
A fiscal deficit, accumulated up to October, of 3.9% of GDP and an increase of 5.3 percentage points of income over expenditure, were the results of the central governments fiscal figures at the end of that month.
Although the growth rate of government expenditure has slowed, it is above inflation, while rising incomes have allowed for a reduction of the fiscal deficit compared to last year.
From a statement issued by the Ministry of Finance:
A reduction of ¢168,742 million in the financial deficit (revenues minus expenses), and a difference of seven percentage points between increased income and expenses, are the fiscal figures for the Central Government recorded with just three months to go until the end of the year.
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