OECD Economic Outlook, Volume 2020 Issue 1
The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.
Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19 outbreak and a chapter summarising developments and providing projections for each individual country.
Costa Rica
Economic activity is projected to contract by around 5% in 2020, before rebounding by 1½ per cent in 2021, if there is a second COVID-19 outbreak in the autumn of 2020. The protracted recovery will hinge on the delayed normalisation of tourism, with the affected sectors likely to be subject to near complete shutdowns until the last quarter of 2020. If the pandemic subsides soon, GDP will shrink by about 4% in 2020 and expand by around 2¾ per cent in 2021, due to a stronger recovery in domestic demand and exports. Headline inflation will initially decline more than core inflation due to subdued energy prices. The surge in unemployment will depress private consumption.
Also available in: French
- Click to access:
-
Click to download PDF - 529.32KBPDF