Costa Rica Coffee Guide

Arias Seeks Help In Closing Deficit

October 2, 2009

Almost $770 million short of meeting this year’s budget, President Oscar Arias has asked the Legislative Assembly to approve an extraordinary appropriation to allow the country to go into debt to close the gap.

 

 

But some legislators have been resistant, criticizing the government for “extravagant” spending and “immoral” decisions.

 

 

According to Rodrigo Arias, the president’s brother and closest adviser, the economic recession has caused Costa Rica to lose 17.5 percent of its tax revenues. This translates to a nearly $900 million loss.

 

 

“This is what is happening all over the world,” Arias said at a press conference Wednesday, saying the management of funds in Costa Rica “has been conservative compared to (other countries).”

 

 

The Arias administration has given legislators one month to approve the allocation, saying that if no action is taken, the money will automatically be appropriated.

 

 

“The only risk is if the legislature votes against it,” he said, adding that he is confident that won’t happen.

 

 

The deficit made headlines this week when Finance Minister Jenny Philips reportedly said that public employees may not get their end-of-year aguinaldos (bonuses) this year because the government doesn’t have enough funds to write those checks.

 

 

In response, Arias said he doesn’t want “to cause alarm.” He added that government workers will receive the bonuses if the Legislative Assembly carries through with appropriations.

 

 

– Chrissie Long

 

 

 

 

 

You may be interested

From the Weeping Woman to the Naked Gringo, a guide to Costa Rica’s spookiest folklore
Happy Halloween
5453 views
Happy Halloween
5453 views

From the Weeping Woman to the Naked Gringo, a guide to Costa Rica’s spookiest folklore

Mitzi Stark - October 31, 2020

Creepy tales are all a part of folklore. Halloween is not considered a traditional holiday in Costa Rica, but the…

The high stakes of digital slots: How casinos beat the competition for Costa Rican players
Advertorial
433 views
Advertorial
433 views

The high stakes of digital slots: How casinos beat the competition for Costa Rican players

The Tico Times - October 31, 2020

It is difficult – if not impossible – to imagine an industry better equipped to keep pace with its own…

President Carlos Alvarado vetoes Costa Rica’s controversial trawling project
Environment
1571 views
Environment
1571 views

President Carlos Alvarado vetoes Costa Rica’s controversial trawling project

Alejandro Zúñiga - October 30, 2020

President Carlos Alvarado on Friday announced that he has vetoed a project that would have authorized trawl fishing in Costa…