Medium Term Prospects For Costa Rican
Economy Promising: IMF
The International Monetary Fund in a report
on Monday said the recent signs of a
turnaround in economic activity in Costa
Rica, and a somewhat more favorable
perspectives for external demand, point to a
gradual recovery to the economy, going
forward. Moreover, it said the medium-term
prospects remained promising.
The IMF expects the economy to contract 1.5%
this year, but grow by 2.3% next year.
Further, the lender expects the inflation to
continue to decline, to reach 5% by the year
end.
Meanwhile, the lender said the medium-term
prospects for the economy remained generally
promising, with strong institutions and
higher investment in human and physical
capital providing a solid basis for the
resumption of high, well-balanced economic
growth.
The IMF said Costa Rica's economy withstood
the impact of the global economic and
financial crisis relatively well."
The strategy to shield the economy from
external shocks through fiscal stimulus and
the mobilization of contingent external
financing has helped preserve confidence and
financial stability, and mitigated the
decline of the economy", it added.
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