February 26th, 2014 (InsideCostaRica.com) Costa Rica reported the second highest fiscal deficit in Central America for 2013, according to figures by the Central American Institute for Fiscal Studies (ICEFI).
The government’s shortfall amounted to 5.4% of GDP, surpassed only by Honduras, which registered a fiscal deficit equal to 7.7% of its GDP.
Nicaragua had the lowest deficit in the region at just 0.7% of GDP; followed by Panama at 2.9%.
Interest payments on debt weighed heavily on Costa Rica’s deficit, according to the study.