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OECD Economic Surveys: Costa Rica 2016 - Economic Assessment

This 2016 OECD Economic Survey of Costa Rica examines recent economic developments, policies and prospects. The special chapters cover: Inclusive growth and Productivity. The public deficit and debt have risen since the start of the 2009 global crisis. Rating agencies have downgraded Costa Rica’s debt to below-investmentgrade and its country risk spread has risen. To restore the fiscal balance it is urgent to raise more tax revenue and curb spending, notably the fastincreasing public-sector wage bill. Improving the fiscal framework by enhancing its transparency and predictability, and reinforcing central government control over public finances would strengthen public-finance management.[...]