Friday, April 12, 2024

Logo Central America Link

Costa Rica cuts growth view to 4 percent on global economic woes. Inflationary and exchange pressure to persist, says bank

Monday, December 5, 2011

Costa Rica cut its estimate for 2011 growth to 4 percent this year as nation is hit by weakness in the global economy, the central bank said.

"As a result of fragility in advanced economies, growth projections have been revised down and inflationary and exchange pressure are expected to persist, motivated by the international flow of capital," the central bank said.

In July, the central bank said the economy would expand 4.5 percent in 2011 based on strong local consumer activity and foreign investment.

Original source: Reuters