Costa Rica: Challenging Times

CENTRAL AMERICA - Report 23 Apr 2014 by Francisco de Paula Gutierrez
Executive SummaryCosta Rican President-elect Luis Guillermo Solis will face challenges after taking office May 8th. Just two days after his landslide victory, Intel Corp. announced it would close its manufacturing facilities in Costa Rica. The closing will be completed by yearend, and involve the layoff of nearly 1,500 workers. Intel´s decision will have a significant impact on the economy. So we are now forecasting lower GDP growth (2.6%) and a higher CAD (5.7% of GDP).Three other major challenges await the new president. The first is the high fiscal deficit. Although during the political ...

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