American Expatriate Costa Rica

According to experts, GDP will be around 4.1% in 2017

According to the Central Bank, the growth of gross domestic product (GDP) will be close to 4.1% in 2017.

Olivier Castro, president of the organization, was in charge of presenting the Macroeconomic Program 2017-2018.

According to him, such a growth would be mainly driven by domestic demand.

As informed by the monetary authority, inflation would be located in a range around 3%, well above 2016 inflation (0.7).

Castro insisted that this is a-long-term goal, so it is not surprising that during 2017 it is not met, as happened this year.

The official also foresees that in 2017 there will be a deepening of the trade deficit to 10.4% of GDP, well above the 9.5% at the end of this year.

It is also expected that by the end of 2017, fiscal deficit is higher than the current one. The gap between government revenues and disbursements would be around 6% of GDP.

The Central Bank expects that next year the credit to the private sector grows by 7.9%.

A reduction in foreign exchange reserves is foreseen.

crhoy.com