Banker confirms downturn of Costa Rican economy

The President of the Central Bank of Costa Rica, Eduardo Lizano, confirmed Friday a dramatic deceleration of economy with GDP growth down to 1.4% this year from 8.2% of the year before.

Lizano attributed the turndown to market adjustments of Intel company, as the country's economy has largely relied on the Intel microchips plant, installed in 1998, which represents over a third of the country's exports. According to Intel, its exports fell from $2.5bn in 1999 to $1.650bn this year, which have