SAN JOSE, April 30 (Reuters) - The head of Costa Rica's central bank on Tuesday revised down the economic growth forecast for this year to 3.8%, from a previous estimate of 4%, due mostly to expectations of less growth in exports and lower domestic consumption.
The Central American economy will also likely expand by 3.8% in 2025, down from a previous forecast of 3.9%, according to estimates provided by central bank President Roger Madrigal at a press conference.
The bank chief said that this year a lower growth rate for external demand is expected for medical equipment as well as business services and information tools.
Another downside risk comes from lower economic growth forecasts for the country's main trade partners, Madrigal said.
"We have grown at a very high rate and we knew that there would be a deceleration," he said.
Costa Rica's economy expanded by 5.1% in 2023. (Reporting by Alvaro Murillo; Editing by Chris Reese and Leslie Adler)
