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LatinNews Daily - 05 May 2021

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In brief: Costa Rica’s central bank raises growth projection

* Costa Rica’s central bank (BCCR) has released a new report which raises Costa Rica’s GDP growth forecast for 2021 to 2.9%, up from 2.6%. The BCCR cited as grounds for its revision, “better perspectives for global economic growth” and more spending on public health in Costa Rica – including the acquisition of vaccines and other spending necessary to address the coronavirus (Covid-19) pandemic. It also changed its estimate of Costa Rica’s GDP growth in 2020 from -4.5% to -4.1%, citing as an explanation the strong performance of companies in special economic zones and their increased investment in machinery and equipment compared with initial estimates. The BCCR also cited preliminary estimates that GDP growth for the first quarter of 2021 was -1.2% year-on-year, up from -4.3% in the final quarter of 2020.