Colombia improves its projections for 2020
Posted: Mon Jan 20, 2025 7:18 am
According to projections by the Bank of the Republic, the gradual reopening of operations in various economic sectors that was completed in September, together with the stabilization of the spread of the pandemic, will generate a slight push to reactivation in the remainder of the year.
This is why, in its recent monetary policy report for October, the Central Bank showed nurse database greater optimism compared to what it saw in July and improved several macroeconomic projections. Initially, the study raised the forecast of economic decline from -8.5% to -7.6% for this year, arguing for a better dynamic in terms of supply and demand during the last quarter.
“The gradual opening of the economy would continue and the supply of the sectors most affected by the pandemic would slowly recover as the easing of restrictions continues to advance,” said Hernando Vargas, technical manager of the Central Bank.
Vargas added that, on the expenditure side, improved household confidence, pent-up demand for various goods and services, higher expected levels of external demand and low real interest rates would contribute to the recovery of the level of output.
Another of the recoveries that the Issuer sees is focused on the labor market, which foresees a short-term improvement and the rate would close 2020 at an average of between 15.9% and 16.7%, lower than the previous forecast (between 16.5% and 19%).
This is why, in its recent monetary policy report for October, the Central Bank showed nurse database greater optimism compared to what it saw in July and improved several macroeconomic projections. Initially, the study raised the forecast of economic decline from -8.5% to -7.6% for this year, arguing for a better dynamic in terms of supply and demand during the last quarter.
“The gradual opening of the economy would continue and the supply of the sectors most affected by the pandemic would slowly recover as the easing of restrictions continues to advance,” said Hernando Vargas, technical manager of the Central Bank.
Vargas added that, on the expenditure side, improved household confidence, pent-up demand for various goods and services, higher expected levels of external demand and low real interest rates would contribute to the recovery of the level of output.
Another of the recoveries that the Issuer sees is focused on the labor market, which foresees a short-term improvement and the rate would close 2020 at an average of between 15.9% and 16.7%, lower than the previous forecast (between 16.5% and 19%).