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Costa Rica’s Central Bank Trims Economic Growth Forecast for 2023

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Costa Rica’s central bank sees gross domestic product growing by 3.2% next year, down from 3.9% previously estimated, citing international factors for the revised forecast, the bank said in a statement on Friday.

The bank’s growth forecast for 2022 remains steady at 3.4%.

At a news conference, central bank President Roger Madrigal cited external factors as the main risks facing the Central American country’s economy, especially the impact of the war in Ukraine on consumer prices. He said that could cause lower growth and tighter monetary policies among the country’s top trading partners.

Last year, Costa Rica’s economy expanded by 7.8% after recovering from a pandemic-induced recession in 2020. (Reuters)

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