Costa Rica: September fiscal results show continued primary surplus; Progress on IMF agenda

  • Central Government fiscal results through September 2021 show a primary surplus of 0.3% of GDP and an overall deficit of 3.9% of GDP. 
  • The primary surplus achievement is said to indicate the fiscal adjustment is on the right track and is a clear sign of the government’s commitment to fiscal sustainability according to Finance Minister Elian Villegas. 
  • Minister Villegas also stressed that such commitment must be complemented by the progress of the IMF legislative agenda. This week the Legislative Assembly’s Economic commission endorsed the Customs Reform bill, one of the eight legislative initiatives that make up the IMF legislative agenda. 
  • It is only the second bill of the IMF agenda to advance to the general Legislative Assembly floor, following the Public Employment. The bill intends to combat smuggling and tax fraud.


(Source: Oppenheimer)