중남미
연구정보
[경제] Costa Rica: Technical Assistance Report-Upgrading the Rule-Based Fiscal Framework
중남미 기타 국외연구자료 연구보고서 - IMF 발간일 : 2023-02-22 등록일 : 2023-03-05 원문링크
The fiscal rule that came into force in 2020 has bolstered fiscal discipline and served Costa Rica well. The rule sets ceilings on nominal expenditure growth for current and total expenditures linked to past nominal GDP growth and debt levels. The rule—explicitly identified in the Law 9635—is transparent, relatively simple, and allows flexibility in crises through an escape clause. The rule has been instrumental in the policy framework. It not only guides the fiscal policy in the budget, but also coalesces public opinion on the need for fiscal discipline. Along with other fiscal reforms, the government commitment to the fiscal rule has been instrumental to fiscal adjustment in 2021-22.
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