Starting Off Slow

COLOMBIA - Report 21 May 2017 by Veronica Navas and Mauricio Santa Maria

This year is off to a weak start in terms of economic activity. GDP expanded by a modest 1.1% in Q1, the lowest since 2009, indicating that the Government’s forecasts of 2% growth for 2017 might be too optimistic. Economic activity seems a lot weaker than what both the markets and the Government expected. This will not play well for the Government in an electoral year, and is likely to result in greater and quicker interest rate cuts by the Central Bank.

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