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LatinNews Daily - 16 July 2020

In brief: OECD warns of pandemic impact on Costa Rica’s economy

* The Organisation for Economic Co-operation and Development (OECD) has published a new report on Costa Rica which forecasts that the country’s GDP will contract by 4.1% in 2020 (having posted 2.1% GDP growth in 2019), as a result of the coronavirus (Covid-19) pandemic. In the event of a second wave of the virus, the OECD expects the country’s economy to contract by 4.9% this year. The report forecasts that unemployment will reach 15.9% in 2020 (17% with a second wave), up from 11.8% in 2019, and that the fiscal deficit will rise to 9% of GDP, up from 7% in 2019.

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