The fiscal deficit of 2018 closed at 6.0 percent of the gross domestic product, which means a reduction of 1.2 percent from the 7.2 percent that was expected, according to Rocío Aguilar, minister of Finance.

According to the minister, the reduction of the deficit is the result of spending containment, the government's fight against tax evasion, greater efficiency in the government and the approval of the Law of Strengthening of Public Finances.

"This achievement is in spite of an adverse environment, lower economic growth, the discussion of the fiscal reform, a prolonged strike and a less favorable international context, which resulted in lower incomes and an increase in the financial burden, making the financing of the needs of the period," said Aguilar.

For his part, President Carlos Alvarado said that "the ultimate goal of the consolidation of public finances is to allow the construction of a more just society".

According to the minister, this data shows that the upward trajectory of the fiscal deficit was reversed thanks to measures such as the following:

1. containing expenses of 0.23 percent of gross domestic product, higher than the expected amount of 0.14 percent;

2- reduction of all items of current expenses, compensation and others with exception of interest;

3- generating income from a tax amnesty for 0.2 percent of gross domestic product;

4- successful placement of $600 million in debt;

5- advance payment of ¢ 499 billion colones ($ 833million) in short-term Treasury bills;

6- timely execution of the payment agreement with the Bank of Costa Rica for the merger with the Banco de Credito Agricola de Cartago.

According to Aguilar, 6 percent of the 2018 deficit was also even lower than the 6.16 percent of the 2017 deficit. Because of the movement of the colon exchange rate, officials express debt and deficits in terms of percentage of gross domestic product, the sum of all goods and services.