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LatinNews Daily - 17 November 2020
In brief: Colombia anticipates larger fiscal deficit
* Colombia’s deputy finance minister, Juan Pablo Zárate, has announced that the government has loosened its fiscal deficit target for 2020 from 8.2% of GDP to 8.9%. Zárate also confirmed that the government has reduced its forecast for economic growth this year, now predicting a contraction of 6.8%, worse than the 5.5% decline projected in June – yet this is still more optimistic than the 7.6% contraction forecast by the country’s central bank (Banrep) in early November. The government has also loosened its fiscal deficit target for 2021 from 5.1% of GDP to 7.6%, and reduced its projection for economic growth from 6.6% to 5%.
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