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2007 Inflation To Be Less Than
9%, Government Predicts
A combination of the approval of
the Tratado de Libre Comercio
(TLC) -free trade agreement with
the United States, better tax
collection and the belt
tightening of public
expenditures, will improve the
economic outlook for this year,
the Banco Central de Costa Rica
(BCCR) says.
"I believe Costa Ricans should
have three words in their minds
at all times - faith, hope and
trust that we can create a
prosperous Costa Rica, richer
and more developed", assured
Costa Rican president Oscar
Arias.
According to the BCCR figures,
inflation for 2007 is expected
to be lower than that of 2006,
which closed at 9.43%, the
lowest rate in the last 14
years. The inflation rate closed
in 2005 at 14.25%.
Good expectations are also
foreseen from the Gross National
Product (GNP) with the
expectations that crude oil
prices will maintain the current
level and could go towards an
increase in the GNP of 7% over
that of 2006, according to
preliminary figures by the BCCR.
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