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Economy Grew Almost 8%
In 2006, the economy of Costa
Rica grew almost 8% in actual
numbers (inflation discounted),
mainly as a result of a boom in
exports and an aggressive
arrival of direct foreign
investment.
The Central Bank estimated at
7.9% the Gross Domestic Product
(GDP) for last year. Bank
chairman Francisco Gutierrez
called 2006 a “good year” and
said that growth was “high, very
high.”
He pointed out that since 1998,
when the country experienced an
8.4% growth, mainly as a result
of the settling here of Intel,
and in 1989, when it reached
8.2%, there had been no
consecutive years of high
growth.
The GDP was up 5.9% 2005. For
this year and for 2008, the
Central Bank expects economy to
grow 5% and 3.8%, respectively.
These figures are more
conservative because foreign
investment is expected to
decrease by us$241 million, and
because the production of
certain crops, such as bananas,
is not expected to increase as
much as it did last year.
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