Costa Rica government revenues, spending on the rise

April 23^rd, 2015 (InsideCostaRica.com) The first quarter of 2015 has brought additional revenues for the Costa Rican government, but also increased spending, Finance Minister Helio Fallas told reporters during a press conference on Tuesday.

Government revenues grew by 13.1% during the first quarter, while spending increased by 11.8%.

In comparison, government revenues grew by 5.5% while expenses increased by 8.5% during the same period last year.

The payment of interest on the government’s debts now accounts for 44% of the government’s fiscal deficit.

Fallas took the opportunity to stress the need to step up the fight against tax evasion, stating that lost revenues from tax evaders amounts to 7.75% of the country’s GDP.

Fallas added that some 185,000 taxpayers who had gainful activity declared “zero” income in the last fiscal period.