Costa Rica: public finances

What is Costa Rica's budget deficit?

Costa Rica's central government had a primary surplus of 1.0% of GDP and an overall financial deficit of 1.2% of GDP in January to June 2026, similar to a year earlier, according to the Central Bank of Costa Rica's Monthly Economic Report for August 2026. Tax revenue fell 0.5% and was 6.3% of GDP. Total spending rose 1.1%, driven by higher interest payments on domestic debt (+8.2%).

The primary balance excludes interest payments, so a primary surplus alongside an overall deficit means interest costs exceed the surplus. The wider reduced public sector, including the central bank, had a deficit of 0.4% of GDP. The Ministry of Finance's site returned an error on 15 October 2026.

Official sources: BCCR: Monthly Economic Report, August 2026 (PDF)

How much debt does Costa Rica have?

Costa Rica's central government debt was 61.1% of GDP at the end of June 2026, 3.8 points higher than a year earlier (57.3%), according to the Central Bank of Costa Rica's Monthly Economic Report for August 2026. About 78% of the debt is domestic and 22% external, equal to 47.6% and 13.5% of GDP.

The BCCR says the ratio rose because the debt grew faster than nominal GDP (3.7% against 2.5%). The ratio covers the central government only; debt of the whole public sector, including the central bank's own liabilities, is higher and is published in the same report.

Official sources: BCCR: Monthly Economic Report, August 2026 (PDF)

How much tax does Costa Rica collect?

Costa Rica's central government tax revenue in January to June 2026 was ¢3,340,146.8 million, 0.5% less than a year earlier and equal to 6.3% of GDP, according to the Central Bank of Costa Rica's Monthly Economic Report for August 2026. Customs revenue fell 5.2%, domestic VAT 2.4% and selective consumption tax 19.4%, while income tax rose 4.6%.

The figure covers half a year. For full years, the World Bank puts tax revenue at 13.46% of GDP in 2024 on its tax revenue series. That series counts central government taxes only and leaves out social security contributions to the CCSS.

Official sources: Monthly Economic Report for August 2026 · tax revenue series

How much does the Costa Rican government spend?

Total central government spending in Costa Rica rose 1.1% in January to June 2026 to 8.4% of GDP, according to the Central Bank of Costa Rica's Monthly Economic Report for August 2026. Primary spending, which excludes interest, fell 0.1% and was 6.2% of GDP. Interest on domestic debt rose 8.2% and interest on external debt fell 9.7%.

Within primary spending, pay rose 3.3%, purchases of goods and services 11.5% and capital spending 4.7%, while current transfers fell 5.4%. The gap between total and primary spending, about 2.2% of GDP for the half-year, is the interest bill. Spending is limited by the fiscal rule in Law 9635.

Official sources: Monthly Economic Report for August 2026

What is Costa Rica's national debt?

In 2025, general government gross debt in Costa Rica was 60.4% of GDP, according to the IMF. Its high point since 2005 was 2021, at 67.0% of GDP; its low point was 2008, at 24.0% of GDP. It is 18th highest of 31 in Latin America & Caribbean, where the median is 65.6% of GDP. Worldwide: 72nd of 185.

Does Costa Rica's government borrow more than it raises?

According to the IMF, general government net lending or borrowing in Costa Rica was -3.4% of GDP in 2025, a deficit. Since 2005 it has ranged from -8.3% of GDP (2020) to 0.6% of GDP (2007). Across Latin America & Caribbean the middle value was -2.8% of GDP, and Costa Rica placed 18th highest of 32. World rank, highest first: 113th of 188.

What is Costa Rica's government revenue?

The latest figure from the IMF, for 2025, is 14.4% of GDP. The peak was 16.0% of GDP in 2022 and the low 12.9% of GDP in 2014. Latin America & Caribbean median: 24.9% of GDP; Costa Rica is 30th highest of 32. Of 187 countries with 2025 data, 169th highest.

How much does Costa Rica's government spend?

The latest figure from the IMF, for 2025, is 17.8% of GDP. Since 2005 it has ranged from 14.6% of GDP (2007) to 22.1% of GDP (2020). Across Latin America & Caribbean the middle value was 26.7% of GDP, and Costa Rica placed 30th highest of 32. World rank, highest first: 164th of 186.

What is Costa Rica's tax to GDP ratio?

The latest figure from the IMF, for 2024, is 13.5% of GDP. Its high point since 2005 was 2008, at 15.2% of GDP; its low point was 2020, at 12.2% of GDP. Latin America & Caribbean median: 15.0% of GDP; Costa Rica is 10th highest of 14. World rank, highest first: 68th of 92.

What is Costa Rica's military budget as a share of GDP?

The latest figure from SIPRI, for 2025, is 0.0% of GDP. The figure has been the same every year since 2005. Latin America & Caribbean median: 1.0% of GDP; Costa Rica is 21st highest of 22. Worldwide: 147th of 149.