COSTA RICA: ​Fiscal and monetary update

CENTRAL AMERICA - Report 06 Feb 2020 by Francisco de Paula Gutiérrez and Felix Delgado

The late disclosure of fiscal figures through December 2019 has caused disappointment about the conduct of public finance. Minister of Finance Rodrigo Chaves presented the results in a press conference on January 29, 2020. Up to November, trends suggested a fiscal deficit with a boundary of 6% of GDP. Instead, the deficit climbed to 7% of GDP, and this news felt like a splash of cold water.

In other news, on January 30, Central Bank President Rodrigo Cubero held a press conference to inform the public about the macroeconomic program for 2020-2021. The general mood depicted by the Central Bank is very similar to last year's, with a slow recovery of economic activity, and also a slow advance in fiscal adjustment.

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