Costa Rica Closes 2012 with Positive Economic Numbers

Costa Rica News – Costa Rica closes 2012 with positive economic numbers, even though the poverty rate has not dropped significantly and a persistent fiscal deficit close to 4.5% of gross domestic product (GDP).
“Economic growth for 2012 could be around 5%, slightly higher than expected in the macroeconomic program,” said the Central Bank of Costa Rica (BCCR).

The Central Bank of Costa Rica noted that the average annual rate of monthly economic activity index was up 5.7% in September, driven by growth in sectors such as manufacturing and service industries.

Inflation reached 4.3% in November and 5.2% as annual rate, which remained within the target Central Bank of Costa Rica close the year between 4% and 6%, the bank said.

Regarding exports of goods in the first eleven months of 2012 totaled U.S. $ 10.45 million, up 8.2% compared to ammount accrued in the same period of 2011.

Foreign Trade Minister, Anabel González said a few weeks ago to Costa Rica in 2013 will focus on legislative approval of free trade agreements (FTA) has already signed with Singapore and Peru, and to end the negotiation an FTA with Colombia and have commercial approaches with South Korea, Brazil, Qatar and Kuwait.

Among the main challenges for the government of President Laura Chinchilla for 2013 include reducing poverty, and the push back against fiscal deficit to be around 4.5% of GDP.

Poverty in 2012 amounted to 20.6% of households in the country, representing a decrease of one percentage point compared with 21.6% in 2011, according to the National Institute of Statistics and Census (INEC) .

That 20.6% of poor households is equivalent to 1.1 million people (23.6% of the population), while extreme poverty amounted to 6.3% of poor families, a figure similar to last year when it was of 6.4%.

Meanwhile, the accumulated deficit in November totaled approximately $ 1,771,000, which represents 4% of GDP and remained within Government projects did not exceed 4.7% this year.

The Costa Rica News (TCRN)
San Jose Costa Rica

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