President Solís highlighted the healthy economy in his State of the Nation speech but offered no hints as to how his administration might change tack to achieve its specific goals, including fiscal reform.
The ratings agency Moody Investors Services downgraded Costa Rica’s government bond rating to Ba1 from Baa3 with a stable outlook Tuesday. The decision came weeks after President Luis Guillermo Solís presented his government’s budget for 2015 without any substantial proposals to curb the country’s growing deficit.
Business confidence in Costa Rica dropped by 10 percent compared to the same period last year, a survey by the Union of Private-Sector Chambers and Associations said. Confidence dropped in every sector surveyed.