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Costa Rica will lose at least 5% of GDP during 2020

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The Gross Domestic Product (GDP) will fall 5.0% in 2020, as updated by the Central Bank of Costa Rica in the review of its macroeconomic program.

This means an increase of 1.45 more than projected, since the Central had calculated a decrease in production of 3.6% for this year, when it did this same exercise in April of this year.

This situation responds to several factors, including the closure measures implemented by the increase in cases of covid-19 in recent months.

In the first semester of 2020, the volume of GDP presented an interannual drop of 4.3%, a rate that placed the level of GDP below the estimate of last April.

In the case of the agricultural sector, it is the one that is least affected, since the figures of this macroeconomic program indicate that it will fall by 0.5% and the worst scenario is the restaurant and hotel sector, which have an expectation of falling. 35%.

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