Colombia Economic Outlook
October 11, 2016On 2 October, in a close but surprising result, Colombians voted to reject the peace agreement between the government and the FARC. The result represents a political blow to President Juan Manuel Santos and it will probably undermine his ability to pass the long-awaited tax reform bill in Congress, which is designed to offset the shortfall in oil revenues. In other news, data for Q3 continued to suggest weak growth as a 45-day truckers’ strike prompted industrial production to shrink for the first time in 14 months in July. In addition, consumer confidence remained firmly entrenched in pessimistic territory in August.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||7.24||1.12 %||Oct 21|
|Exchange Rate||2,929||0.0 %||Oct 21|
|Stock Market||10,096||0.19 %||Oct 21|
Colombia Economic Growth
October 11, 2016While our panelists were already expecting growth to hit a seven-year low this year due to low oil prices and tepid global demand, the rejection of the peace agreement could further hurt the country’s outlook by raising political uncertainty. Analysts expect the economy to grow 2.1% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel projects economic growth of 2.7%.
Colombia Economic News
October 7, 2016
In what was a narrow and shocking result, Colombians rejected the peace agreement between the government and the FARC at the 2 October referendum.
September 30, 2016
In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
September 30, 2016
The seven-member board of the Central Bank (BanRep) unanimously decided to keep the reference interest rate unchanged at 7.75% at its 30 September monetary policy meeting.
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 Central Bank’s (BanRep) efforts to fight inflation through tighter monetary policy seem to be finally paying off.