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Economy / Costa Rica

Macroeconomic Forecast Costa Rica

February 2010 | Macroeconomic Forecasts

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BMI View: December data reveals the extent of Costa Rica's fiscal deterioration, with the central government balance recording a deficit of CRC448.7bn for the month, a sharp outturn on the CRC36.4bn surplus seen in December 2008. With the country set to remain in recession in 2010 (we are currently forecasting real GDP growth of -1.2%), we believe fiscal accounts will continue to be severely squeezed, and are forecasting a widening of the nominal non-financial public sector deficit to 4.8% of GDP, up from an estimated 4.5% of GDP in 2009.