Financial Surplus Logged For Third Month in a Row
The Costa Rican economy remained on the up-and-up last month, producing a financial surplus of $92.3 million, Finance Minister Guillermo Zúñiga reported Aug. 16.
This marked the third consecutive month the country has generated a financial surplus. During the first seven months of the year, the Costa Rican government’s income totaled more than $2.1 billion, while its spending, including interest on debt, registered about $2 billion.
These results were achieved through improved tax collection; from January to July, 31.4% more taxes were collected than during the same period last year, Zúñiga said.
The government’s spending has increased 19% this year, and though most of its money still goes to salaries and pensions, investment in social works and infrastructure has increased significantly.
“We have a very significant primary surplus, not including debt … which has allowed us to cover payments on interest and achieve a financial surplus,” Zúñiga said.
You may be interested

IMF loan ‘ultimately benefits all Costa Ricans,’ Alvarado says in interview
The Tico Times - March 2, 2021The International Monetary Fund (IMF) on Monday approved a three-year, $1.78 billion loan to help stabilize Costa Rica's economy. Read: IMF…

This day in history: Pope John Paul II visits Costa Rica
The Tico Times - March 2, 2021Tuesday is the 38th anniversary of Pope John Paul II’s visit to Costa Rica. As the first pope to visit the country,…

The compromises Costa Rica made with the IMF
The Tico Times - March 2, 2021Costa Rica will receive a three-year, $1.78 billion loan from the International Monetary Fund as part of the financial entity’s…