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12 Mar 2019, Radoslav Yordanov, EMIS Editor

IMF raises its 2019 growth forecast for Colombia

The International Monetary Fund (IMF) raised its 2019 GDP forecast for Colombia by 0.2% to 3.5%, CEEMarketWatch reported. The upward revision was motivated by strong private consumption and recovering investment in the country, as well as by improving credit market conditions.

In this regard, the IMF praised the government’s fiscal and monetary policies and projected that the public deficit would be reduced to 2.4% of GDP this year.

On the other hand, the IMF underlined that more structural policies are needed to consolidate the expansion of the local economy. The fund warned that Colombia’s GDP still could be affected by the uncertain global context related to the expectation of weakening global demand.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch