The fiscal deficit in the first quarter of 2017 amounted to 1.2% of GDP, a figure similar to the one achieved in the third month of 2016. The amount is equivalent to ¢ 409.77 billion.
The figures were presented on April 20th by finance minister and vice president Helio Fallas.
Last March, tax revenues grew 8.5%, driven mainly by fuels and sales. There is also an increasing participation of the income tax and the profits of tax revenues.
According to Minister Fallas, the positive trend shown so far is thanks to the efforts in the collection and technological improvements.
In addition, in the same month, spending grew by 9.5%, which corresponds to the change in investment expenses, mainly related to Education.
The salaries, in turn, are growing at a slower rate thanif compared to 2012. The minister indicated that this is related to the low inflation and the hiring freezing in the public sector.