Public entities achieve a surplus to improve financing in the CCSS


An important improvement in the finances of the Social Security Fund (CCSS) allowed the deficit that had public institutions became a surplus this year.

Entities of the nonfinancial public sector went from a deficit in the first eight months of 2011 to ¢ 65.447 million (representing 0.3% of domestic production) to a surplus this year, almost as many (¢ 65633000).

To calculate this result, the Central Bank considers six entities: the CCSS, Recope, the National Production Council, ICE, Social Protection Board and the Costa Rican Institute of Aqueducts and Sewers.

Roger Madrigal, director of the economic division of the Central Bank, explained that “is mainly due to the significant improvement of the CCSS in which there is a sustained growth in revenues (17%) that exceeds the growth of expenditure (11 %) “.

Furthermore, Recope, presented a lower deficit, and others improved their results.

Why CCSS had improved? Gustavo Chacon Picado, financial manager of the CCSS, explained that the factors that have influenced the improvement are: a policy of creating new highly selective recruitment, this year not exceeding the 400 in total; salary increases strictly adjusted to by cost of living. A set of extensive and diverse measures focused on the optimization of resources, and the reactivation of recruitment vacancies that provide a high impact on the opportunity and quality of services provided by the institution.

In revenues, which come from social charges have shown similar growth to 2012, the state has made its payments and has remained a strong collection management.

In Production Council, its president, William Barrantes, said that the improvement is by a process of reduction of people (less than 110 workers in the last year), and on the other hand, sales have increased.

It was not possible to answer the other entities.