LatinNews Daily - 18 June 2021

In brief: Colombian think-tank predicts stronger recovery than anticipated

* Local think-tank, Fedesarrollo, has increased its prediction of GDP growth for Colombia in 2021 from 4.8% to 7.2%. Fedesarrollo’s director, Luis Fernando Mejía, said that the improved forecast was due to five factors: better-than-expected growth in Q1, when Colombia's economy grew by 1.1% year-on-year; the low basis of comparison (GDP contracted by 6.8% in 2020); the reopening of sectors that had been forced to close due to the coronavirus (Covid-19) pandemic; the acceleration of the Covid-19 vaccine rollout; and the improved prospects of the global economy, which Mejía said would increase internal and external demand. However, Mejía warned that unemployment is likely to remain high, and called on the government to design a plan to bring the unemployment rate below 12% by the end of 2021.

End of preview - This article contains approximately 132 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.