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Costa Rica needs more taxes... eventually

Friday, May 11, 2012

Higher taxes are needed to fix the rising Costa Rican debt crisis, said leading economists.

The Central Bank states that government debt has risen to 5 percent of gross domestic product, or approximately $2.1 billion, and the gap continues to widen.

Max Soto, director of the Economics Research Institute at the University of Costa Rica, said if new taxes are not announced, then it appears President Laura Chinchilla is leaving the problem to future administrations to solve.

Source: Tico Times