Costa Rica – Central America’s Second Biggest Economy Grows 5.5%
Posted by Adam Sax on Tue, Jul 10, 2012 @ 11:49 AM
Reposted By: Jesse Montgomery, from The Costa Rica News
San Jose [TCRN] – Costa Rica was foretasted 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)