Macroeconomic Forecast Costa Rica

osta Rica's central bank has raised its growth forecasts for the country to 4.5% for 2011, amending its initial forecast as strong foreign direct investment in the telecommunications and outsourcing sector. The revision is above our estimate for real GDP growth of 3.6% in 2011 and 3.6% in 2012, which we hold to for the time being, anticipating that the Costa Rican economy will run out of steam somewhat over the course of 2011, in line with a slowdown in demand for exports and a moderation in investment.

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