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.
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.
President SolÃs 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.
