Former Friends Fighting for Votes

COLOMBIA - Forecast 04 Nov 2013 by Veronica Navas and Andrés Escobar Arango
Executive SummaryHouseholds are growing less indebted, due to slowing consumption lending – and that’s the main reason for the slowdown in consumption. Still, at nearly 74%, most household debt is still consumption debt. And consumption lending was rebounding in the first week of October. That’s good news, as household consumption is expected to lead the economy to grow 4% this year, and 4.4% in 2014.The current account deficit has been expanding since 2009, and hit 3.3% of GDP last year. Government forecasts project the same rate for 2013, and for coming years. Lower exports are to blame. ...

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