Although so far this year exports have fallen by 8%, the industrial sector increased its electricity consumption by 4%.
"The larger amount of generation (and consumption) of electricity may indicate that economic activity remains strong despite the slowdown in the export sector," said Ovidio Reyes, manager of the Central Bank of Nicaragua.
Experts say that it will take time for private banks to lower interest rates.
With the aim of giving Nicaraguan banks greater flexibility and enabling them to create more liquidity, the country's central bank has decided to reduce the mandatory reserves a bank must have.
While analysts questioned believe that banks are unlikely to cut their interest rates immediately, this measure will mean that banks can reduce the amount they keep in reserve with the central bank and therefore release more credit, which should help stimulate the economy.
Although Nicaragua is qualified for international cooperation as one of the middle class nations, it continues to need support because it has a high level of external debt.
The nation also faces a considerable load of internal debt, which includes Negotiable Investment Certificates, bank debt, and bonds.
Last year Switzerland announced that it was withdrawing its support to Nicaragua, and in April of this year Germany did the same.