COSTA RICA: Lower GDP growth

CENTRAL AMERICA - In Brief 23 Jul 2019 by Francisco de Paula Gutierrez
The Central Bank of Costa Rica revised its GDP growth estimates lower for 2019 and 2020, to 2.2% and 2.6% respectively, from 3.2% and 3.0% forecast at the beginning of the year. According to the Bank, a series of external and domestic events affected the growth rate of the economy. Among these are the crisis in Nicaragua, which caused a decline in exports to the country, and the confidence level of economic agents, as the economy goes through a fiscal reform. The Bank also lowered the Monetary Policy Rate by 50 points, to 4.0%, as the economy was operating below its potential, to stimulate production while keeping inflation within the 2.0%-4.0% target range. We will look in more detail at the Bank´s revision of its Macroeconomic Program 2019-2020, and we will discuss our 2019-2020 outlook for the Costa Rican economy in this month´s report.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.