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Economic Survey of Latin America and the Caribbean 2007-2008

Macroeconomic Policy and Volatility

image of Economic Survey of Latin America and the Caribbean 2007-2008

The Economic Survey is one of ECLAC's flagship publications, and has been issued since 1948. This new edition covers the region's economic performance in 2007 and the first semester of 2008, and suggests growth estimates for this year.

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Costa Rica

The real rate of increase in the country’s GDP stood at 7.3% in 2007, compared with 8.8% in 2006. While this was a significant decrease, growth was still strong and above the average for the current decade. GDP growth was mostly due to the expansion of gross fixed investment and of exports. Per capita GDP was up by 5.5%, growing for the sixth consecutive year. Inflation picked up in 2007, closing the year at 10.8% (9.4% in 2006). The public-sector balance posted a positive result for the first time in 30 years and unemployment fell to the lowest level seen in the 2000s. The balance-of-payments current account deficit was equivalent to 5.7% of GDP, one point above the previous year’s figure.

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