The Institute of Research in Economic Sciences of the University of Costa Rica reported that when compared to 2016, it was found that the first half of 2017 will close with higher inflation and higher interest rates. According to their estimates, at the end of the term, local inflation will be around 2%, a figure […]
Archives for April 21, 2017
175 writs of amparo to fight the laws that limit “luxury pensions”
The Ministry of Finance received 175 writs of amparo that have been filed to the Constitutional Chamber, due to the laws that limit the so-called “luxury pensions.” Last August, lawmakers passed a series of laws that included measures such as modifying the increase percentage to former legislators’ pensions, or adjusting to the possibilities of inheriting […]
Italian made man Gregorio Gigliotti was sentenced to 18 years in prison
An Italian made man, located in New York, was sentenced to 18 years in prison for importing more than 50 kilos of cocaine from Costa Rica. Gregorio Gigliotti, 61, was sentenced in the East District Court of New York for drug-trafficking and firearm-carrying offenses. The subject used a pizzeria located in Queens as a front […]
Costa Rica is not part of the FATF blacklist
Yesterday afternoon, the bill that includes amendments to the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legitimation of Capital and Financing of Terrorism, requested by the International Financial Action Task Group (FATF), was passed. An agreement between the fractions and legislator Óscar López’ decision of removing the motions that he […]
The fiscal deficit reached 1.2% of GDP
The fiscal deficit in the first quarter of 2017 amounted to 1.2% of GDP, a figure similar to the one achieved in the third month of 2016. The amount is equivalent to ¢ 409.77 billion. The figures were presented on April 20th by finance minister and vice president Helio Fallas. Last March, tax revenues grew 8.5%, […]