Costa Rica's
government has sharply reduced its forecast
for economic growth this year and now
expects output to grow only 0.5 percent, a
senior government official said.
The new forecast is far below the previous
estimate of 2.2 percent growth but given the
state of the global economy any growth would
be good news, said the ministro de la
Presidencia, Rodrigo Arais.
"Even if the growth is zero it isn't so
bad," Arais said.
Costa Rica has adjusted its growth forecasts
downward several times in recent months as
the global economic slowdown has worsened.
In October, Costa Rican officials estimated
that 2009 growth would be 5 percent.
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