According to the Central Bank, Costa Rica's economy could grow 3.2% this year, less than was initially expected, and the fiscal deficit could reach 7.2% of GDP.
In its revision of the Macroeconomic Program 2018-2019, the Central Bank of Costa Rica (BCCR) foresees that this year's GDP growth will be 3.2%, below what was estimated in the Program presented at the beginning of the year, when the monetary authority projected growth of 3.6% at the end of the year.
The fiscal deficit stands at historically low levels, inflation is moderate and the macroeconomic perspective is positive, but a continuous effort is required to improve social indicators.
From a statement issued by the IMF:
21 November 2017: The authorities’ commitment to their reform agenda has remained strong during the program, which has successfully stabilized the economy, restored confidence, and paved the way for accelerating growth and reducing poverty.
The rating agency highlights growth at rates of 5% achieved in the last five years, but estimates that in 2017-18 this will fall to 4.5%, partly due to the effect of a reduction in financial flows from the program with Petrocaribe.
From a statement issued by Fitch Ratings:
Fitch Ratings-New York-23 August 2017: Fitch Ratings has affirmed Nicaragua's Long-term foreign currency Issuer Default Ratings at 'B+' with a Stable Outlook.
By 2017 the Central Bank forecasts inflation of between 2% and 4% and an annual growth rate of 4.1% in gross domestic product in the 2017-18 biennium.
From the report "Macroeconomic Program 2017-2018" by the Central Bank:
For the 2017-2018 biennium, in an expectedcontext of moderate growth in our main trading partners, a gradual return to normal international liquidity and orderedincreases in the international price of basic commodities, the macroeconomic projections include the following:
Despite latent risks in the fiscal area, the Central Bank estimates growth of 2.4% for GDP, helped by an increase in consumption and low inflation.
Authorities at the Central Reserve Bank of El Salvador warned that the growth forecast could be affected by possible increases in interest rates or in international oil prices.Political polarization and the delicate fiscal situation also constitute threats to the expected growth.
The Central Bank has set the inflation target at 3% for 2016-2017. The projection of real GDP growth for 2016 is 4.2% and 4.5% in 2017.
From a statement issued by the Central Bank of Costa Rica:
This program contains an analysis of the macroeconomic situation in 2015 and the objectives, policy measures and macroeconomic projections for the next 24 months.
The institution confirmed a positive outlook for the medium term, projecting economic growth of 4% and inflation of 3.5% by the end of the year.
From a press release issued by the International Monetary Fund:
A mission from the International Monetary Fund (IMF) headed by Mr. Gerardo Peraza visited Managua from 20 to 29 October 2015 in the context of the Article IV consultation.
The IMF highlighted the progress made in the fiscal area and projects low inflation and economic growth of 3.6% for 2016.
From a press release issued by the IMF:
An International Monetary Fund (IMF) mission, led by Roberto Garcia-Saltos, visited Tegucigalpa on September 24 to October 6 to conduct the second review of Honduras’ Fund-supported program.
In the first half of the yer, economic activity grew by 3.6% over the same period in 2014, driven in part by the 9% increase in credit to the private sector.
From a statement issued by Banco Central de Honduras:
The Central Bank of Honduras (BCH) presents the "Performance of the Honduran economy for the first half of 2015," which details the most important economic events that occurred in that period.
Although the product has remained steady in its level of potential, the country's economic prospects are not as promising due to the weakening of economic fundamentals.
From a statement issued by the International Monetary Fund (IMF):
This note summarizes preliminary findings and recommendations of the IMF staff mission that visited Costa Rica during October 28–November 11 to conduct the 2014 Article IV consultation.