Costa Rica: Fiscal Transparency Assessment

Author: International Monetary Fund. Fiscal Affairs Dept.

Volume/Issue: Volume 2013 Issue 316

Publication date: October 2013

ISBN: 9781484316733

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Public Finance , ISCR , CR , executive branch , central government , accounts payable , fiscal report , government state , public finance , Budget planning and preparation , Public sector , Budget execution and treasury management , Fiscal reporting , Global , budget target , budget approval

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Summary

This paper discusses pilot fiscal transparency assessment for Costa Rica. The assessment confirmed that Costa Rica has various excellent and sophisticated fiscal transparency practices. Those include: (1) institutional coverage with annual consolidated budgetary information for the entire public sector and monthly information for the Executive Branch; (2) information produced regarding tax expenditures; (3) an independent Office of the Comptroller General of the Republic that audits budget balances by May of the following year; and (4) a medium-term budgetary framework and budgetary projections with forecasts of key macroeconomic variables and the assumptions on which they are based. However, weaknesses do persist in some areas.