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Spending cuts slash public works in Costa Rica

Tuesday, June 5, 2012

Public-sector investment has slumped in Costa Rica over the last three years as a result of cuts in government spending.

Money earmarked for new public works and repairs of existing ones fell by 30 percent in the first four months of this year compared with the 2010 level.

Growth in the fiscal deficit is the main reason. However, Costa Rica has $1 billion outstanding in foreign loans for urgent public works.

Source (in Spanish): La República