By requiring banks to have additional capital requirements the Sugef aims to discourage consumer loans, mortgages and vehicles loans with long repayment terms.
Arguing that terms of over 30 years for housing loans and more than 5 in consumer loans encourages overindebtedness of Costa Ricans, the Superintendent of Financial Institutions (SUGEF) has presented a proposal toreform the ruleson capital adequacy of financial entities, in order to require entities that carry out these credit operations to have additional capital.
The installation of solar energy systems in homes has been growing in recent years, with the number of self producers registered with Eegsa going from 700 in 2014 to more than 1,500 up to April this year.
Figures from Empresa Eléctrica de Guatemala indicate that the majority of those registered as self producers are in the department of Guatemala, according to an explanation given to Prensalibre.com by Ricardo Méndez, commercial manager of the distributor.
Although the tea which is most consumed in the South American country is black tea, there is a growing consumer preference for new flavors, varieties and formats.
From a statement issued by PROCOMER:
Chile led teaconsumption with 428 cups per person per year, taking into considertion sales of retail and foodservice channels, according to Euromonitor International.It is followed by Argentina with 95 cups per capita; Uruguay, with 80 and Bolivia with 75.For 2021, the consultancy firm estimated that in Chile consumption will reach 486 cups per year.
The union of pig farmers reported a production of 95 million pounds of pork in 2016, of which 35% was destined for domestic consumption.
Figures from the National Pork Producers Association (Anapoh) indicate that currently annual per capita consumption is 11.24 pounds of pork. The union reported a growth rate between 2015 and 2016 of about 15% in production and consumption of an equal magnitude.
In two weeks the Ministry of Finance expects to tender two contracts to supply gasoline and software to control fuel consumption.
The objective of this new tender is to better control and reduce gasoline consumption instate entities.The first tender will be made for the Ministry of Finance, and after that other institutions will follow.
Of the $10,000 million granted in bank loans for consumption up to November 2016, 64% were for consumer loans, 16% for car purchases and almost 20% were credit card loans.
Between January and November 2016 the balance of personal loans granted by the banking system grew by 7%, going from $45.7 billion to $48.5 billion.Of the total awarded up to November 2016, 64% were personal loans.
Local coffee shops are aiming to differentiate themselves through service and the quality of their coffee in a market where the number of establishments operating in the country has almost doubled in just five years.
Growth in Nicaraguan's purchasing power and the increasing sophistication of coffeeconsumption are some of the reasons behind the increase in the number of coffee shops in the country, which are located mainly in and around Managua.Figures from the Tourism Institute show that the number of registered establishments rose from 247 in 2010 to 461 in 2015.
Between 2012 and 2016 imports of beef in the country doubled, going from $24 million to $50 million, while in the same period local cattle slaughter fell by 17%.
Figures from the Livestock Development Corporation (CORFOGA) indicate that consumption of imported beef has grown steadily in recent years. In 2010 the country imported 4,731 tons, while in 2016 the figure was 9,406 tons.
Infant milk formula and yogurt are the derivatives which recorded the highest increases in demand between September 2015 and August 2016, compared to the same period last year.
The figures presented in the National Dairy Congress in Costa Rica, held in October, indicate that demand for dairy products grew at a rate of 6.5% last year, driven by increased demand for products such as yogurt in its different presentations, milk formula and cheese, among things.
The number of convenience stores in the country is growing in response to increased purchasing power and a gradual change in consumption patterns.
The number of supermarkets operating in the country increased from 130 in 2012 to 155 this year, says Laprensa.com.ni. As purchasing power increases and consumers get more "sophisticated" so is there a growth in Nicaraguans shopping in these types of establishments rather than the traditional "grocery stores".
Reports show that in the last five years consumption has grown by 150%, going from 3.6 million liters consumed in 2010 to 10 million in 2015.
Brands such as Monster, Jet, Battery and Red Bull are some of the energy drinks sold in Costa Rica, where, as in other countries, the consumption of these drinks has been growing steadily in recent years.
Consumption by private companies and households went up by 4.6% in the first half of the year, exceeding the average growth rate of 2% of its main trading partners.
An example of the pace at which private consumption has been growing in the country is the relevance it has taken on in the bank's loan portfolios. Deputy general manager of Banco Nacional de Costa Rica, Bernardo Alfaro, explained that"... These kinds of operations rose from 28% of total credit seven years ago to 32% today."
Despite latent risks in the fiscal area, the Central Bank estimates growth of 2.4% for GDP, helped by an increase in consumption and low inflation.
Authorities at the Central Reserve Bank of El Salvador warned that the growth forecast could be affected by possible increases in interest rates or in international oil prices.Political polarization and the delicate fiscal situation also constitute threats to the expected growth.
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