Unemployment in Costa Rica reached 24% in the April-June quarter, the highest on record, as the country continues to suffer the economic effects of the coronavirus pandemic.
Unemployment in Costa Rica reached 20.1% from March to May 2020, marking the highest-recorded level of that economic indicator, the official statistical agency announced Thursday.
The Costa Rican economy will contract between 4.1% and 4.9% this year compared to 2019, depending on the severity of the health crisis, according to the OECD.
The Costa Rican government predicts a fiscal deficit of up to 9.7% of GDP as a result of falling revenues and expenses related to the COVID-19 pandemic.
Costa Rica intends to grow industrial hemp, attract wealthy retirees, and encourage the science and health technology sectors as avenues for economic recovery.
