Costa Rica: Monetary Policy Report 2022-2023

CENTRAL AMERICA - Report 01 Feb 2022 by Fernando Naranjo and Felix Delgado

On January 28, the Central Bank of Costa Rica released its Monetary Policy Report for 2022-2023 (previously known as the "Macroeconomic Program"). The main indicators can be found in our report.

The Central Bank included preliminary estimates for 2021, with better results than expected in some key areas. Real GDP reached a rate of growth of 7.6% y/y, driven by strong external demand and also the recovery of domestic demand. The figure for private consumption expenditures is explained by the increase in national income. The Bank presented in the report GDP growth of 3.9% y/y for 2022, and 4.0% in 2022.

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