Tuesday 23 April 2024

Fiscal Déficit to Affect Costa Rican Economy in 2013

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23 April 2024 - At The Banks - Source: BCCR

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The fiscal deficit will affect the economic development of Costa Rica for 2013, a country in which a smaller closing than the one in 2012 in nearly 2 percentual points, said Costa Rican Central Bank president Rodrigo Bolaños. The short-term policies cannot still stop the deficit and do not give the awaited results, said Patricia Perez, president of the Income and Public Expense Control Commission for the Legislative Assembly.

deficit-costaricaThis opinion coincides with the one by several opposition deputies, who question the effectiveness of the economic policy by the government, said Costa Rican website www.prensalibre.cr.

The president of the National Liberation Party, Fabio Molina, said the inclusion of Costa Rica in new international markets will benefit the economy.

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But Victor Hernandez, a representative from the Accion Cuidadana Party, said that attracting direct foreign investments will not give a solution to the current problems, since the financial unbalance generates less access to the new businesses.

Local newspaper La Nacion said the Costa Rican Gross Domestic Product increased nearly 5 percent in 2012 but the fruits of this expansion are not equally distributed.

The high unemployment and poverty indexes and the unequal distribution of incomes will continue next year, and the predictions for economic growth are around 3.5 and 4.5 percentual points, said La Nacion.

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