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
A washing machine ocean and a city of sin at the Essential Costa Rica Surf Pro 2018 in JacóManuel Martínez - October 14, 2018
One of the things I like most about surfing is the constant change. You’ll be surfing the best waves of…
A look back at our 5 questions for Costa Rican photographer Ivannia AlvaradoElizabeth Lang - October 14, 2018
Our Weekend Arts Spotlight feature has profiled a lot of artists and gone through several changes throughout the years. One…
Heavy rains hit Costa Rica: two dead, one missing; another tropical wave expected to hit tomorrow, red alerts issuedAlexander Villegas - October 13, 2018
Two people died and one is missing after a tropical wave and heavy rains swept through Costa Rica late this…