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07 Jun 2018, Radoslav Yordanov, EMIS Editor

World Bank lowers 2018 and 2019 growth forecasts for Colombia

The World Bank has decided to cut its 2018 and 2019 growth forecast for the Colombian economy, CEEMarketWatch reported. The bank lowered its projection for this year by 0.2% to 2.7%, while it expects local GDP to expand 3.4% in 2019, 0.1% down compared to its previous forecast.

Despite this downward revisions, the World Bank underlined the recent improvement of the economic conditions in Colombia such as the decline of the unemployment and the stabilization of CPI inflation.

In this regard, the institution projected that the local economy will accelerate to 3.6% in 2020 driven by stronger private consumption and investment.

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