According to figures from the Central Bank of Costa Rica, in the first six months of the year credit to the private sector has reported a clear downward trend, since in January the amount registered amounted to $34.072 billion and the increase compared to the same month in 2017 was 7.9%. 

However, from February to June, the year-on-year increase has decreased, given that there are variations for each month of 7%, 6%, 5.2%, 4.4% and 3.8%, respectively. 

In relation to the decline in the growth of credit to the private sector, economist Luis Diego Herrera, analyst at the trading firm Acobo, told Crhoy.com that " ... the demand for credit is not only determined by the rates of interest, because uncertainty is high. In this way, factors linked to the interests would have - at the moment - little influence in the decision to take on new debt."

Herrera added that " ...'In general, much of the uncertainty is related to what is going to happen with public finances, the approval of the fiscal reform project and a series of measures that the country must take in order to move it away from the path that now has a high deficit with a high debt'."

Source: Crhoy.com

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Mortgages and personal loans were largely responsible for the increase in domestic credit to the private sector, registered between March 2017 and the same month of 2018.

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The decrease in the granting of credits to the business sector has been attributed to legal uncertainty caused by the case of the hydroelectric stations Oxec I and II.

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