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LatinNews Daily - 19 March 2019

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In brief: Costa Rica

* Costa Rica’s finance minister Rocío Aguilar has announced that Costa Rica’s fiscal deficit closed at 1.03% of GDP in February – a “very similar” level to that of the previous year. Back in December 2018 the government led by President Carlos Alvarado pushed through a fiscal reform, due to come into force on 1 July 2019, which, among other things, replaces the current 13% sales tax with a 13% value-added tax (VAT) and increases the number of products and services to be taxed. Costa Rica’s finance ministry has released new figures which show the country’s fiscal deficit closed at 6% of GDP in 2018, down from the 7.2% forecast.