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Costa Rica says fiscal deficit doubles in the first five months of this year

Thursday, June 24, 2010

The Costa Rican fiscal deficit registered an increase of 97 percent in the first five months of the year in comparison with the same period of the previous year.

The Finance ministry informed that the deficit to May reached $670 million, greater by almost $340 million more than the previous year.

The ministry added that a $500 million World Bank loan approved Tuesday night by the Costa Rican Legislature could reduce the cost of servicing public debt.

Original source: Inside Costa Rica