Costa Rica
Duplicates
Fiscal Deficit
The Costa Rican
fiscal deficit
registered an
increase of 97%
in the first
five months of
the year in
comparison with
the same period
of the previous
year.
The ministerio
de Hacienda
informed
Wednesday in an
official notice
that the deficit
to May of 2010
reached us$670
million dollars,
greater by
almost us$340
million more
than the
previous year.
He indicated
that the income
rose from
us$1.75 billion
dollars to
us$1.9 billion
dollars, whereas
the expenses of
us$2.09 billion
dollars rose to
us$2.62 billion
dollars.
Revenue Minister
Fernando Herrero
affirmed in the
official notice
that “although
the income show
a growth as a
result of a
greater dynamism
of the economy,
costs show an
increasing trend
for items not
subject to
cuts”. Among the
majors debits he
mentioned wages,
pensions, and
the budget for
the State’s
higher
education.
In as much, the
tributary income
had a growth of
6.8%. The taxes
that presented a
greater increase
were the one of
consumption with
23.7%, customs
with 20.3% and
rents with
13.5%.
Herrero reported
that he expects
a us$500 million
World Bank loan
approved Tuesday
night by the
Costa Rican
Legislature,
'could reduce
the cost of
servicing public
debt. "
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