Fiscal Balance in Costa Rica

Costa Rica Fiscal Balance | Economic News & Forecasts

Costa Rica - Fiscal Balance

The economy appeared to gain traction in the fourth quarter, after growth accelerated in Q3. Cyclically-adjusted economic activity growth hit a near one-and-a-half-year high in December, and the growth rate in Q4 comfortably surpassed that of Q3. Stronger government spending due to a low base effect likely powered the acceleration in the fourth quarter. Rising consumer confidence in Q4 will have supported private consumption; however, a simultaneous increase in the unemployment rate and a sharp decrease in bank lending will have had the opposite effect. The drop in bank lending will have also weighed on fixed investment, and came despite several interest rate cuts by the Central Bank in 2019. In other news, Moody’s downgraded Costa Rica’s credit rating to B2 from B1 on 10 February, due to a poor fiscal profile, and changed the outlook to stable from negative.

Costa Rica - Fiscal Balance Data

2014   2015   2016   2017   2018  
Fiscal Balance (% of GDP)-5.6  -5.7  -5.3  -6.1  -5.9  

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Costa Rica Facts

Value Change Date
Exchange Rate571.0-0.57 %Jan 01

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