Costa Rica’s economy would have an expected growth of 4.3 percent by the end of this year, according to the estimate revealed today by the Central Bank as part of its monetary policy report.
According to the president of the Central Bank of Costa Rica, Roger Madrigal, the growth of the country’s Gross Domestic Product for next year is expected to be 2.7 percent, slightly better than the estimated world average of 1 percent.
Madrigal added that, despite the pessimistic forecasts for next year, in the case of Costa Rica, the outlook “is not worrying, a recession is not foreseen”.
The relatively good performance of the Costa Rican economy for the end of this year is related to a greater demand for exports and a more significant flow of Foreign Direct Investment this year.
In the case of exports, the estimate is that by the end of this year they will have increased by 10.4 percent, while by 2023 an increase in foreign sales of 5.4 percent is expected.
The Central Bank also emphasized that Costa Rica’s economy has managed to reactivate 225,000 of the 230,000 jobs lost during the COVID-19 pandemic.
As for inflation, it would end the year at 10.4 percent, but by 2023 it would be back within the central bank’s target range of around 4 percent.
