Thursday, 29 October 2020
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Salaries of 260,000 public employees would be frozen indefinitely

The salaries of more than 260,000 public sector employees are close to being frozen indefinitely, due to the critical situation of public finances. They will not receive salary increases or cost of living after the public debt exceeds the equivalent of 60% of Gross Domestic...

2014-2020 period will mark the lowest growth in the last seven decades for Latin American economies

The economic overview for Latin America and the Caribbean in 2019 is occurring in a particularly complex context, reports the Economic Commission for Latin America and the Caribbean (ECLAC). The region is exhibiting an economic deceleration that is widespread and synchronized among countries and sectors,...

Costa Rica’s Economic Growth Is Not Accelerating

In the second quarter of 2019, Costa Rica's Gross Domestic Product (GDP) grew 1.4% year-on-year, below the 3% reported for the same period in 2018, the Banco Central de Costa Rica (BCCR) - Central Bank - reported. The BCCR said that "a continuing a loss...

After Venezuela, Nicaragua will be the economy that will fall most this year in Latin America

The Economic Commission for Latin America and the Caribbean (ECLAC) said that Nicaragua will be one of the three economies where imports will be contracted, as well as the Gross Domestic Product (GDP), a forecast that is in line with the International Monetary Fund...

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) -...

Costa Rica to Issue US$4 billion in Foreign Markets

To avoid further pressure on local interest rates, the Ministry of Finance will be considering issuing US$1 billion a year in the international market over the next four years. Representatives from the Ministry of Finance confirmed that they are preparing an application to the Legislative...

Costa Rica GDP Up 3.2% in 2017

The increase reported at the end of the fourth quarter of 2017 is mainly explained by higher spending on final household consumption and higher gross capital formation. From a report by the Central Bank of Costa Rica: In the fourth quarter of 2017, economic activity, measured...


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