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San José . The Costa Rican economy is expected to grow by 3.2% by the end of 2018, according to the Macroeconomic Program Review Revealed by the Central Bank of Costa Rica (BCCR), in which the forecast made in January adjusted by -0.4 percentage points.
At a press conference, the president of the BCCR, Olivier Castro, presented the results of the review of the program on the basis of macroeconomic variables that show that inflation in Costa Rica will continue during this period.
According to Castro, there is no significant pressure on demand, and inflation, to its extent year-over-year, remained close to the lower limit of the goal of the Bank set at +/- 1 point of the order of 3%
The Costa Rican authorities have been concerned about the budget deficit, whose estimate for the end of the year has increased by 0.1 percentage point and is expected to reach 7.2% of GDP. Gross domestic product
The BCCR ensured that, for this estimate, it took into account the effect of the cost reduction and control measures announced by the Costa Rican Minister of Finance, Rocio Aguilar, but not yet yet. Effect of the reform
For Castro, the measures proposed to improve the perception of the Government of Costa Rica are urgent and should be taken as soon as possible, since the social cost of the deficit is very high.
They are becoming more expensive for society, we understand that there is quite a political debate about the fiscal adjustment, but it is clear that if we delay the impact on the l & rsquo; The economy will be larger, "explained Castro
.The deficit makes the public debt a" multiplier effect "and becomes an important element that drains the resources of the state.
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