Weekly Report - 1 June 2004

COLOMBIA | Growth outlook. A majority of respondents to the central bank's latest survey of economic expectations, conducted in April and released last week, believe that Colombia's GDP growth this year will reach 3.9%. This is an improvement on expectations at the beginning of the year and just shy of the 4% projected by the government - but well short of the 5% several private economists have been predicting lately. For 2005, a majority of those surveyed expect a growth rate of 4.3%. More than two-thirds of the respondents, however, believe that there will be no improvement in unemployment (21% predict an increase, 4.9% a fall).p>

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