Costa Rica: Budget Victories, at a Price

CENTRAL AMERICA - Report 03 Dec 2014 by Francisco de Paula Gutierrez
Executive SummaryAfter almost three months of heated debate, Costa Rican President Luis Guillermo Solís got his 2015 budget approved, unchanged. Though this was a political victory, its second-round effects will be less favorable. The fight generated some casualties, even within the president’s own political party, and the fiscal agenda is just beginning.Costa Rica must take a set of actions in order to move toward a sustainable fiscal situation. Several, including adopting new taxes, require congressional approval. The reluctance of the executive branch to accept spending cuts – though Sol...

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