Costa Rica´s fiscal rule. A correction

CENTRAL AMERICA - Report 06 Oct 2019 by Francisco de Paula Gutiérrez and Felix Delgado

In our September 30th Monthly Report we indicated that, in defining the Fiscal Rule, the Ministry of Finance considered the final budget allocation, which includes allocations done after the approval of the original budget. That statement was not correct. The compliance with the fiscal rule was calculated with the 2019 budget originally approved. The discrepancy between the Ministry of Finance and the General Comptroller Office (CGR) was that the CGR wanted the rule be calculated with the budget actually executed in 2018, rather than the one approved for 2019.

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