Monday, July 9, 2012

Costa Rican Economy to Grow by 5.5% in 2012

Costa Rica Central Bank
Costa Rica Central Bank
San Jose [TCRN] – Costa Rica was forecasted earlier this year to grow 4%, but Nomura Securities  International latest report shows Costa Rica’s economy is expected to grow 5.5%.

The Central Banks target of 5% inflation is on track, and consumer prices predicted to trails economic growth.

The report continues speaking very highly of Costa Rica macro-economics, and Costa Rica will see real GDP growth that exceeds inflation rate.

Nomura also stated that Costa Rica needs full fiscal reform to lower deficit, but economic growth should positive effect tax revenues.

Overall Nomura and Costa Rica Central Bank forecasts for Costa Rica economic outlook is very positive.
Central Bank of Costa Rica

International Reserves: US$ 4.763 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product – GDP: US$ 44.313 billion (2010)
GDP (Purchasing Power Parity): 57.955 billion of International dollars (2010)
Unemployment Rate: 2012 down to 7.5% from 8.3% in 2011 (estimated)
Sources: Bloomberg, Business Week, Central bank of Costa Rica
By the The Costa Rica News (TCRN), San Jose Costa Rica

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