Finance Minister Says
First Semester Surplus
Ensures Government Can
Meet Second Semester
Obligations
The ministro de
Hacienda, Guillermo
Zúņiga, assured
yesterday that the
government has the funds
to be able to meet its
fixed costs for the
second half of the year,
as it ended the first
half with a surplus of
Ē128.466 million colones.
Zúņiga said the surplus
will allow the
government to meet its
fixed obligations for
the second semester,
include public worker
salary increases that
went into effect on July
1 and the year end
bonus, the "aguinaldo".
Hacienda figures show
that income grew 25%
over the same period of
January to June last
year, while costs only
grew 15%. Income tax was
the single largest
income growth for the
government coffers.
According to minister
Zuņiga, the higher
income will allow the
government to invest in
social plans to combat
poverty, roads,
security, the food plan
and money for Recope to
subsidize fuel prices.
If the trend continues,
ZUņiga expects to end
the end with a deficit
equal to 0.5% of te
Producto Interno Bruto (PIB)
- Gross Nationa Product.
The minister said that
his ministry is looking
for ways to eliminate
the tax on diesel by
taxing higher super and
regular gasoline.
Another way is to double
the tax on the marchamo
(the annual vehicular
circulation permit) for
diesel powered passenger
vehicles.
"I believe legislators
are in agreement to
eliminate the tax on
diesel fuel, but it will
leave a financial hole
of Ē1.3 billion colones
in loss of income, and
we have to find a way to
recover that", said
Zuņiga.
Zuņiga added that the
government has already a
plan prepared and will
be meeting with
president, Oscar Arias,
over the weekend to
analyze the proposals
and once everyone in
government is in
agreement will be
knocking on the doors of
the heads of the
legislative parties in
the coming week.
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