Costa Rican economic growth slows to 5.8 percent
The rate of economic growth has slowed down in Costa Rica, according to central bank figures published Monday.
Wednesday, July 2, 2008
During the first quarter, the nation's gross domestic product grew by 5.8 percent compared with the same period of last year. The growth rate is the lowest in eight quarters.
The Bank of Guatemala revised their growth estimates for 2008 to 4.3% which is lower than the 4.8% predicted in April and the initial 5.3% in January.
The growth of the Nicaraguan economy at the end of 2008 will be lower than that of 122 other developing countries.
After reaching a growth of 5.7% in 2007, the economy suffered a strong slowdown to the point where CEPAL is projecting a growth of 4.3% for 2008 and 4.0% in 2009.
In the second quarter of 2009, the country's Gross Domestic Product dropped 2.3% when compared to the same period of 2008.
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