Costa Rica raises this year’s economic growth estimate to 4.5 percent

Costa Rica's economy will expand 4.5 percent this year, the central bank said, raising an initial forecast as foreign companies invest in telecommunications and outsourcing.

In January, the central bank said 2011 growth would be 4.3 percent and 4.5 percent in 2012 but upped both estimates by 0.2 percentage points as prospects for the economy improved. "Outsourcing services and other significant investments made in the free-trade zones ... are enabling this acceleration," said central bank president Rodrigo Bolanos.

Original source: Reuters