Costa Rica legislators put fiscal reform on fast track

Costa Rican legislators approved fast-track status for a fiscal reform proposed by the president, Laura Chinchilla.

The country needs a fiscal reform in order to reduce a a public-sector deficit that last year amounted to 5.3 percent of the gross domestic product.

The fiscal plan seeks to change a sales tax of 13 percent into a broader value-added tax of 14 percent. The proposal also includes a 2 percent tax on private education and medical services.

Original source (in Spanish): Reuters