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Costa Rica finances 73% of its public education with indebtedness

The payment of teacher salaries, the operation of the school lunch program, scholarships, improvements in educational infrastructure and the transfers to the public universities in their majority were financed through indebtedness during 2018. A recent report from the Contraloría General de la República (CGR) -...

New Public Employment Law Needed To Reduce Fiscal Deficit

Without a new public employment law, the cost containment measures presented by the Ministra de Hacienda (Minister of Finance) Rocio Aguilar, will not be enough to resolve public finances. Likewise, the business sector insists that the next step is to take measures that change public...

Higher Dollar and Interest Rates Slowed Consumer Spending

The constant instability of the dollar exchange rate and the increase in interest rates, especially in colones, have slowed the growth of consumer spending so far this year. The El Financiero reports, "up to the first quarter of 2016, household spending grew steadily, reaching an...

‘Nobody Wants Costa Rica To Be Another Greece’, President Solis

  President Luis Guillermo Solis shakes off criticism following his Tuesday evening's television address to the nation that Costa Rica is facing a serious liquidity problem. At the Basilica de Los Angeles in Cartago Wednesday morning, after morning mass, President Solis responded with impatience and turned...

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