Public Finance fiscal deficit deficit Economics Public finances fiscal deficit limits public spending finances Government expenditure Government Treasury Secretary of Costa Rica Costa Rica Government Fernando Rodríguez Central Bank of Costa Rica Finance Secretary (Honduras)

Costa Rica's Fiscal Deficit Will Be 6% of GDP in 2014

The country ranks third in Latin America in terms of the difference between income and expenditure in relation to GDP.

Monday, August 12, 2013

In 2012, government revenues totaled 14.4% of GDP while expenditures were 18.8%.

Data from the Economic Commission for Latin America and the Caribbean (ECLAC), reveals that compared with 2007 figures the country shows a significant deterioration . "... While last year the deficit was 4.4% in that year there was a surplus of 0.6%. Revenue was 15.5% of GDP and expenditure of 14.9%," noted an article in Elfinancierocr.com.

The situation could be more critical this year when taking into account the provisions of the Central Bank estimating that the deficit will close at 5% and analysts who calculate 6% for next year. The economist Fernando Rodriguez points to two factors that have deteriorated to the country. The first is that expenses have increased and the a level of collection has not reached what it was in 2008,15.4% (13% is projected for this year)

Source: elfinancierocr.com

¿Busca soluciones de inteligencia comercial para su empresa?

Name*

Last Name*

Email:*

Telephone (Country):*

Company:*

Title:*

Size of the Company:*

Industry:*

Yes, I want to receive a call from a salesperson*

Comments:*

this site is protected by reCAPTCHA and Google's privacy policy and terms of service.

Need assistance? Contact us

(506) 4001-6423

Key entities

Economic Commission for Latin American and Caribbean Central Bank of Costa Rica Fernando Rodríguez Thelmo Vargas

Countries

Costa Rica

Insight

deficit fiscal deficit finances Public finances public spending Government expenditure cost reduction fiscal deficit limits Public Finance Government Economics

Government Spending in Costa Rica Keeps Growing

February 2014

In January 2014, current account expenditure increased by almost 8% compared to January 2013, with the category of Remuneration up 11%.

The monthly figures from the Central Government Revenues, Expenditures and Financing report published by the Ministry of Finance of Costa Rica, shows that the increase in total revenues in January 2014 was almost 11%, which meant a reduction in the fiscal deficit financial compared to GDP of 0.7%.

Costa Rica's Fiscal Deficit: Official Projection Falls Short

March 2013

Costa Rica could have a greater fiscal deficit than the 4.8% estimated by the Central Bank for this year, reaching 5.1% of GDP.

According to the Fiscal Studies Program by the School of Economics at the National University of Costa Rica, this projection was based on total tax revenues increasing by 8.7%, taking into account a lower tax income and Customs taxes (due to a fall in imports) and also an increase in total expenditure of 11.5%.

Costa Rica Ends 2011 With Fiscal Deficit of 5.6%

December 2011

This will be the second consecutive year that Costa Rica has the highest fiscal deficit in the region.

The International Monetary Fund states that the difference between revenues and expenditures of the government of Costa Rica at the end of 2011 amounted to 5.6% of GDP. The Finance Minister Fernando Herrero said that this deficit is 5%.

Costa Rica: Public Spending Up 18%, Revenue 5%

June 2010

In the first five months of 2010, the fiscal deficit was $670 million, 86% more than the same period of 2009.

An article in Nacion.com notes that “the deficit accounted for 1.93% of the country’s production. The Treasury expects the deficit to represent 4.8% of the GDP by the end of the year”.