Costa Rica fiscal deficit

Costa Rica made official two budget support loans this Thursday with the Inter-American Development Bank (IDB), for an amount of 500 million dollars.

The Inter-American Development Bank (IDB) said Wednesday that it has approved two loans to Costa Rica totaling $500 million.

The country intends to contain the fiscal shortfall through a series of spending cuts and new income

Costa Rica closed 2020 with a fiscal deficit of 8.3% of GDP, the highest in recent decades although lower than the official projection, the government announced Monday.

We hope you're reading this with a delicious Costa Rican coffee or traditional gallo pinto. Here's the Costa Rica (and regional) news you should know on Friday, October 30.

We hope you're reading this with a delicious Costa Rican coffee or traditional gallo pinto. Here's the Costa Rica (and regional) news you should know on Thursday, October 29.

The Costa Rican government predicts a fiscal deficit of up to 9.7% of GDP as a result of falling revenues and expenses related to the COVID-19 pandemic.

President Carlos Alvarado said that even with the fiscal tightness that the country is going through, the government has as a priority to attend to the needs of the population.

The Costa Rican government announced a plan that aims to consolidate finances and encourage economic growth without applying further taxes. 

The figure was given despite the fact that the country adopted a tax reform at the end of 2018 that included tax increases to address the deficit.