The fiscal deficit of the country was at 2.62% of the Gross Domestic Product (GDP) last May, which represents 0.4 percentage points more than last year.
The payment of interest on loans that the country requested to finance is still the main problem of the public finances. Currently, this item represents 1.55% of GDP, while in May last year it was 1.38%.
A positive point was that the primary deficit was reduced, that is, the difference between government income and expenditure without counting interest. The decrease was 0.13% of GDP.
Closing the gap between income and expenses has allowed the Treasury to recover its credibility externally and internally, while its presence in the domestic market has decreased, which has been reflected in the lower interest rates in their most recent placements. This is a necessary condition for the process of economic reactivation carried out by Costa Rica,”
said Rocío Aguilar, Minister of Finance.