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Caribbean & Central America - February 2011 (ISSN 1741-4458)

COSTA RICA: Fiscal reform, destined to crash before it takes off?

If it had waited another two days, the Costa Rican administration of President Laura Chinchilla could have submitted its fiscal reform bill to the national assembly (AN) on the eighth anniversary of the fiscal reform proposed by the administration of Abel Pacheco (2002-2006). But then again, that was an anniversary few wanted to remember; the 19 January 2003 fiscal reform proposal which aimed to raise tax take by 2.5% of GDP, just like Chinchilla's bill, presented to the AN on 17 January, fell flat on its face. In the past 25 years, none of the 15 fiscal reforms approved (1985-2009) have accomplished the aforementioned goal. Many local analysts already dismiss Chinchilla's proposal as a failure in the making.

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