Government Spending in Costa Rica Keeps Growing

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

Tuesday, February 25, 2014

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%.

The fiscal deficit in Costa Rica has followed an upward path in recent years, which has been reported by rating agencies such as Fitch and Standard & Poor's as a threat to maintaining the sovereign debt rating.

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Costa Rica: Tax Figures Up to January 2018

February 2018

At the end of the first month of the year, total expenses grew by 7.8%, while tax revenues increased by almost 9%.

From a statement issued by the Ministry of Finance:

At the end of the first month of 2018, the deficit was 0.6% of production and the primary deficit (income and interest-free expenditure) stood at 0.4% of GDP.

Panama's Tax Figures Improve

August 2016

Due to a 12% increase in revenue in the first half of 2016 the fiscal deficit of the nonfinancial public sector fell by 80% compared to the same period in 2015.

From a statement issued by the Ministry of Economy and Finance:

The Minister of Economy and Finance, Dulcidio De La Guardia, presented today at a press conference the results of the Fiscal Balance of the Nonfinancial Public Sector (NFPS) and the Central Government, for the first half of 2016, highlighting a significant reduction in the deficit, which went from 647 million dollars in the first six months of 2015 to 129 million in the same period this year, representing a reduction of 519 million or 80.2%.

Costa Rica: Fiscal Deficit In June is 2.3% of GDP

July 2013

During the first six months of 2013, the Central Government's financial deficit reached $1.154 billion, equivalent to 2.3% of GDP.

From a press release by the Ministry of Finance of Costa Rica:

In June, 2013, primary expenditure, ie total expenditure excluding interest, grew by 8.8%, significantly less than the 11.2% recorded last year.

Public Finances, the Weak Link of Costa Rica

January 2011

Aldesa analyzed the Macroeconomic Program 2011-12, by the Central Bank of Costa Rica, with projections for 2011.

In our view, one of the most important elements of the program and to which attention should be paid, has to do with projections for public finances.

Given the relative similarity of economic conditions between 2010 and 2011, the most important is the role played by the Central Government in managing the growing fiscal deficit.