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...and Costa Rica tackles a new economic reality

Monday, July 16, 2018

Costa Rica's economy is growling slowly this year, amid forecasts of lower wage increases and higher interest rates, in addition to expectation of new taxes that will squeeze consumers.

The nation's banks believe that consumer loans will grow by 7 percent in the last quarter of this year, compared with the 13 percent average over the last four years during the same period.

The trend in recent years had been of growth boosted by credit, particularly in the government sector, whose deficits grew accordingly year after year.