News & Articles
February 28, 2008
Costa Rica Says Finances Set to Resist US Downturn
SAN JOSE, Costa Rica, Feb. 28 (Reuters) - Costa Rica expects to maintain healthy government finances despite a downturn in the economy of the United States, its main trading partner, Treasury Minister Guillermo Zuniga said on Thursday.
"From a point of view of national finances this situation (the U.S. economic slump) hits us at a good moment," said Zuniga. "I don't see any large dislocations in public finances."
Improved tax collection combined with healthy economic growth left Costa Rica with a budget surplus of $174 million last year, its first surplus in 50 years.
The central bank expects the U.S. slump to limit growth in Costa Rica to 3.8 percent in 2008, compared to 6.8 percent growth in 2007. ($1 = 495 colones)
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