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Costa Rica cuts 2014 economic growth forecast

Friday, August 1, 2014


 

The Costa Rican government cut its economic growth forecast for 2014 to 3.6 percent, down from a 3.8 percent forecast in January.

The reason for the cut is due to low levels of public spending and technology firm Intel's announcement to close down its manufacturing plant in the country, said Olivier Castro, president of the Costa Rican Central Bank.

The bank also maintained its inflation target of 3 to 5 percent for this year.

Full story (in Spanish)