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Economy & Business - January 2011 (ISSN 1741-7430)

COSTA RICA: Government announces fiscal adjustment

The government expects to send the proposals to congress in the second half of January. The finance minister, Fernando Herrero, said that the government wants to increase tax revenues by 2.5% of GDP by increasing income and sales taxes. It also wants to raise a further 1% of GDP in tax revenues by clamping down on tax evasion between 2011 and 2014. In 2009, the country's GDP came to US$33bn.

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