Costa Rica’s economy to grow less than expected this year

June 17, 2013

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

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada
Please Send Coffee!
1147 views
Please Send Coffee!
1147 views

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada

Gustavo Díaz Cruz - December 14, 2017

My mom named me Gustavo Adolfo. I was born in Puntarenas, next to the sea, but my home was in…

Response to disaster: aid successes, struggles in post-Maria Puerto Rico
Weather
1142 views
Weather
1142 views

Response to disaster: aid successes, struggles in post-Maria Puerto Rico

John McPhaul - December 13, 2017

As Costa Rica joins many other nations in looking back upon the horrendous 2017 hurricane season, longtime Tico Times contributor…

Looking back at Hurricane Maria: the initial impact
Weather
2018 views
Weather
2018 views

Looking back at Hurricane Maria: the initial impact

John McPhaul - December 12, 2017

As Costa Rica joins many other nations in looking back upon the devastating 2017 hurricane season, longtime Tico Times contributor…