January 30, 2019 / 12:50 AM / 6 months ago

Costa Rica's economy grows 2.7 pct in 2018, less-than-expected

SAN JOSE, Jan 29 (Reuters) - Costa Rica’s economy expanded 2.7 percent last year, the country’s Central Bank said on Tuesday, missing its target and registering slower growth than the prior year.

The Central Bank’s president, Rodrigo Cubero, told a news conference the country had expected its economy to grow 3.5 percent in 2018, after recording 3.4 percent growth in 2017.

He attributed the under-performance to a three-month strike among public workers, a difficult fiscal situation and the political turmoil in Nicaragua, a key trade partner and transit zone for exports to Central America.

The Central Bank projected that the economy will grow 3.2 percent this year, Cubero said, driven by an increase in public investment and a recovery in investor and consumer confidence following a tax reform. (Reporting by Alvaro Murillo; Writing by Daina Beth Solomon; Editing by Sandra Maler)

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