Was it possible to avoid this recession In Colombia? Yes, but the economy is growing It wasn’t the most anticipated by everyone, as the country’s economy grew just 0.6% in all of 2023. National Administrative Service for Statistics (Deen) in delivering the results of the Gross Domestic Product (GDP) Colombian.
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This result confirmed that last year was seriously affected by the economic slowdown, because when compared with the total economic growth that occurred in 2022, the difference was 6.7 percentage points, since growth in that year was 7.3%. It is also the lowest result of the 21st century, without counting the pandemic period.
In fact, the indicator revealed by Dane was well below what was predicted by the markets of the Colombian economy and the national governmentas the average expected growth was at least 1%.
Moreover, growth was far from the 1.2% growth forecast for 2023 by the World Bank or the 1.4% forecast by the International Monetary Fund (IMF) and the Organization for Cooperation and Economic development (OECD).
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
