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22 May 2019, Radoslav Yordanov, EMIS Editor

OECD raised 2019 GDP forecast for Colombia

The Organisation for Economic Co-operation and Development lifted its 2019 GDP forecast for Colombia to 3.4%, CEEMarketWatch reported.

According to the organization, the local economy will grow strongly thanks to the gross fixed capital formation which is expected to accelerate its expansion this year by 4.2% to 5.3%.

On the other hand, public consumption growth will slow by 0.8% to 5.1% in 2019, because the government must curve the pace of spending in order to achieve fiscal consolidation.

The OECD also raised its 2020 GDP projection to 3.6% expansion.

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