Colombia Economic Outlook
September 13, 2016On 24 August, after five decades of war, the government and the FARC finally agreed on a peace deal. The deal will need to be ratified first in a plebiscite on 2 October. A victory at the ballot box could provide President Juan Manuel Santos with political capital to push for an important tax reform to improve the government’s finances. Low oil prices have battered the economy and put pressure on the state’s fiscal accounts. GDP grew just 2.0% year-on-year in Q2, the weakest pace in over six years, due to subdued private consumption, a further contraction in investment and increased imports.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||7.08||0.71 %||Sep 29|
|Exchange Rate||2,893||-0.64 %||Sep 29|
|Stock Market||9,897||-0.43 %||Sep 29|
Colombia Economic Growth
September 13, 2016Our panel sees GDP growth slowing to a seven-year low this year due to expectations of a slowdown in total consumption in the wake of a tightening fiscal and monetary policy and persistent external headwinds related to subdued global growth. However, a ratified peace deal with the FARC and prospects of higher oil prices toward the end of this year are positive for the country’s outlook. Analysts expect the economy to grow 2.2% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel projects economic growth of 2.8%.
Colombia Economic News
September 16, 2016
Industrial production unexpectedly shrank 6.2% annually in July, which contrasted the 6.7% increase seen in June.
September 5, 2016
The Colombian economy continues to adjust to low oil prices two years after they first started to collapse.
September 5, 2016
The Central Bank’s (BanRep) efforts to fight inflation through tighter monetary policy seem to be finally paying off.
September 2, 2016
In July, exports shrank 27.3% over the same month last year, which was a more severe contraction than June’s 15.4% drop.
August 31, 2016
At its 31 August monetary policy meeting, the seven-member board of the Central Bank (BanRep) held its policy interest rate steady at 7.75%, bringing a year-long tightening cycle to an end.