COSTA RICA · ANALYSIS
Key Facts
- Power Index Costa Rica ranks 9th of 14 in The Rio Times Latin America Power Index, with 36.5 points (October 2026 edition).
- What is happening Costa Rica’s finance ministry lost its expenditures vice minister; the revenue vice minister now covers both posts.
- Why it matters Hacienda, the finance ministry, runs the state’s budget, treasury, debt and accounting by law; vice ministers split the work.
- The numbers Hacienda has two vice ministers, revenue and expenditures; Víctor Julio Carvajal Porras has held both since Monday, 2 November.
- Who is who Rodrigo Chaves is finance minister; Carvajal is revenue vice minister; Luis Antonio Molina Chacón, the expenditures vice minister, resigned.
- What to watch Whether President Laura Fernández names a new expenditures vice minister while the 2027 budget bill is before the Assembly.
- What it means for you This is a staffing change, not a policy change; no tax, budget or debt measure has been announced.
Costa Rica’s finance ministry has two vice ministers, one for revenue and one for expenditures. This guide shows what the spending post covers and why its vacancy matters.
Costa Rica’s finance ministry, Hacienda, announced on Monday, 2 November that its vice minister of expenditures had resigned. This guide explains what that job is, using the law that sets up the ministry.
For the news itself, read Costa Rica Finance Vice Minister Resigns. Here the focus is how Hacienda works and why a vacancy on the spending side matters.
In Plain English
Hacienda Costa Rica’s finance ministry. By law it leads the system that manages the state’s money.
Vice minister A deputy to the minister who runs part of a ministry. Costa Rican ministries can have several.
Expenditures (Egresos) The spending side of the state’s money. Hacienda’s own statement calls the post the vice minister of expenditures.
Revenue (Ingresos) The money-raising side of the ministry. Its vice minister, Carvajal, has a career in tax and fiscal policy.
Legislative Assembly Costa Rica’s parliament. It receives the budget bill from the government and votes on it.
What Does Hacienda Do?
Law 8131 makes Hacienda the lead body of the state’s financial administration system. That system has four parts: budget, treasury, public credit and accounting.
The National Budget Directorate drafts the annual budget bill. The finance minister must present it to the Legislative Assembly by 1 September each year.
The National Treasury manages the state’s cash and payments. The Public Credit Directorate proposes the state’s borrowing policy, and National Accounting keeps its books.
Where the Vice Minister of Expenditures Fits
Law 8131 does not mention vice ministers. The split into revenue and expenditures sits in Hacienda’s own organisation rules, which were not found on its website on 3 November.
Local profiles describe Luis Antonio Molina Chacón’s work as budget and public-finance management. By its title, the post covers the spending side, as the revenue post covers collection.
Molina held the job from September 2023 and stayed on under President Fernández. He resigned effective Saturday, 31 October, and Hacienda said he left for new professional challenges.
Who Covers the Post Now
Víctor Julio Carvajal Porras, the revenue vice minister, covers the expenditure duties from Monday, 2 November. He was sworn in on Thursday, 14 May 2026, after serving as agriculture minister under Chaves.
Hacienda did not say whether Carvajal’s double role is temporary. Rodrigo Chaves, president until May, remains minister of both Hacienda and the Presidency.
Why the Vacancy Matters
The practical effect is workload, not policy. One deputy now carries the revenue and the spending sides while the 2027 budget bill is before the Assembly.
The vacancy also adds to a run of exits. Local counts put senior departures at nine or ten in under six months since President Fernández took office on Friday, 8 May.
Exits Since 8 May, From Local Tallies
Ministers Foreign Minister Manuel Tovar and Foreign Trade Minister Indiana Trejos were dismissed. Labour Minister Roy Thompson resigned.
Vice ministers Posts in labour, agriculture, education, the economy ministry and foreign affairs have also emptied.
Agencies Laura López, general manager of the trade-promotion agency Procomer, announced her resignation and stays until December.
Counts differ, and reasons for each exit vary. A tally shows turnover, not a single cause.
What It Means for You
Investors in Costa Rican bonds and US firms there should watch for a permanent appointment. They should also watch for any change in budget policy.
Travellers and residents see no direct effect. Read more on the Costa Rica hub and in Costa Rica Power Structure Explained, or The Rio Times Latin America Power Index.
Related reports are Costa Rica Bond Plan Faces Assembly Test and the San José city page. Each shows how government decisions in San José reach foreign residents and investors.
What Is Not Known
Hacienda’s organisation rules, which set which units report to the expenditures vice minister, were not available for this guide. Readers should treat the split of duties as described by title and local profiles.
Hacienda has not said who will lead the expenditures side permanently. It has also not said why Molina chose to leave beyond new professional challenges.
Frequently Asked Questions
What does Costa Rica’s finance ministry do?
Hacienda leads the state’s financial system by law. That covers the budget, treasury, public credit and accounting, and the minister presents the budget bill to the Assembly by 1 September.
What does a vice minister of expenditures do?
The post covers the spending side of Hacienda, by its title and local profiles. The ministry’s organisation rules, which set the exact duties, were not available.
Who does the job now?
Revenue Vice Minister Víctor Julio Carvajal Porras covers the expenditure duties from 2 November. Hacienda did not say whether that is temporary.
Does the resignation change Costa Rica’s budget or taxes?
No change has been announced. The 2027 budget bill is before the Legislative Assembly, and the resignation is a staffing change.
Sources: Law 8131 on public financial administration and budgets; Hacienda press release CP-21-2026, 14 May 2026; Ministerio de Hacienda, news and statements; Casa Presidencial (all accessed 3 November 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief