The restrictive economic policies that were implemented in 1996 in order to deal with the country's public-sector deficit, adverse weather conditions and the unfavourable international economic situation all combined to exacerbate the slowdown that had begun several years earlier. As a result, Costa Rica's gross domestic product (GDP) shrank by 0.6%. Meanwhile, the balance-of-payments current account deficit persisted, but inflation eased substantially.

Related Subject(s): Economic and Social Development
Countries: Costa Rica
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