Costa Rica’s economy to grow less than expected this year
Central Bank President Rodrigo Bolaños said Tuesday that economic growth this year will be less than the 4 percent forecast in January.
Bolaños did not offer new growth projections, saying only that he expects those numbers to be ready next month.
The announcement comes at the same time that the Central Bank revised its calculation of the Monthly Index of Economic Activity (IMEI) after detecting an error in the computer system that registers the country’s foreign trade, specifically figures related to free-zone based businesses.
The correct value for the first four months of 2013 is now 2.1 percent, instead of the 3.4 percent previously reported.
The correction creates a larger deficit in the trade balance as the adjustment was recorded in the country’s export figures.
Annual inflation is expected to remain within the 5 percent forecast, Bolaños said.
You may be interested
Costa Rica coronavirus updates for July 12, 2020Alejandro Zúñiga - July 12, 2020
Costa Rica confirmed 365 new cases of the coronavirus over the past day, totaling 7,596 cumulative known cases, the Health…
Slothy Sunday: Osa, a true ‘Oso Perezoso’Denise Gillen - July 12, 2020
Looks can be deceiving, as those of us who work with sloths can tell you. This is especially true with…
Hotel reservation won’t work as exception to driving restrictions this week [Updated]Alejandro Zúñiga - July 11, 2020
Update: After the Saturday afternoon press conference, the Costa Rican government has apparently changed its mind on this subject. According to…