Costa Rica Coffee Guide

Government surplus at $275 million

August 15, 2008

Despite mounting economic woes, the Costa Rican government managed to increase its financial surplus for the first seven months of the year to about $275 million, the Finance Ministry announced yesterday.

 

A surplus occurs when government revenues surpass government expenses, including interest payments on the public debt.

 

The surplus is triple what the government had last year during the same stretch.

 

The government collected 40.1 percent more in income taxes in the first seven months of this year, compared with the same period last year, as well as 23.9 percent more in customs taxes and 22.6 percent more in sales taxes.

 

Meanwhile, spending increased just 17.4 percent, the ministry said.

 

The ministry said deeper pockets will allow the government to better face what are normally bigger bills in the second half of the year, which include salary increases and the aguinaldo – a bonus paid to workers in December equal to a month’s salary.

 

“These results from the month of July confirm that one of our country’s strengths is its fiscal situation, as has been recognized in recent weeks by one of the principal international risk qualifiers,” Finance Minister Guillermo Zúñiga said.

 

Last week, Moody’s Investor Services raised its outlook for Costa Rica from stable to positive.

You may be interested

Costa Rica coronavirus updates for July 13, 2020
Costa Rica
21332 views
Costa Rica
21332 views

Costa Rica coronavirus updates for July 13, 2020

Alejandro Zúñiga - July 13, 2020

Costa Rica confirmed 440 new cases of the coronavirus over the past day, totaling 8,036 cumulative known cases, the Health…

Costa Rica is enforcing strict measures this week. Here’s what’s open
Costa Rica
461 views
Costa Rica
461 views

Costa Rica is enforcing strict measures this week. Here’s what’s open

The Tico Times - July 13, 2020

Costa Rica is enforcing strict measures throughout much of the country this week in order to better trace coronavirus outbreaks…

Costa Rica announces cuts in public spending in the face of pandemic crisis
Costa Rica
369 views
Costa Rica
369 views

Costa Rica announces cuts in public spending in the face of pandemic crisis

AFP and The Tico Times - July 13, 2020

The President of Costa Rica, Carlos Alvarado, announced Sunday a sharp cut in public spending as part of the actions…