American Expatriate Costa Rica

Government rushing to avoid a bad rating from risk agencies

Laura Garro, head of the legislative bloc of the governing party Partido Acción Ciudadana, urged the Legislative Assembly to start proceedings on essential topics and thus preventing a bad rating in September, this is when is expected risk qualifying agencies will arrive to Costa Rica for checking in on the country’s finances.

Garro said that the government is pressuring to the legislative branch to agree on a time table to discuss fiscal bills, including one dealing with taxes, before the risk qualifying agencies release their verdict on the state of public accounts.

On the same page, government officials have suggested to the legislative blocs to agree upon a schedule for reviewing economic legislation. These authorities stressed that the outcome of these bills will determine Costa Rica incorporation into The Organization for Economic Cooperation and Development (OECD).

The opposition alliance, composed by seven parties, have enough seats to decide upon bill scheduling and for trimming legislative procedures.

Blocs within the alliance don’t have a unique opinion about a fast track schedule for bills approvals. Some agree on the need to set this legislative calendar, while others believe it’s not necessary and even have proposed to leave the discussion on taxes for next year.

Source: Diario Extra.