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In 2023, there was a significant reduction in poverty, with 33% of the population classified as poor, compared to 36.6% in 2022 and 39.7% in 2021, and there was an important progress in closing some poverty gaps.

Savings in Colombia have decreased, affecting investment in key sectors. Increasing disposable income and savings is crucial to fostering economic growth. Policies should focus on promoting savings and productive investment.

GDP grew 5.0% y/y in May. The expansion of the fishing sector and primary manufacturing stood out (together they reflect the effect of the greater catch of anchovy). We estimate that the direct contribution of this factor to GDP growth is 2.5 p…

The labor informality rate in Colombia is higher for men (58%) than for women (53%), unlike other countries in the region. However, in specific subgroups like educational level and rural areas, women are more informal. Policies should focus on …

In its July decision, the Board of the Central Bank decided maintain the reference rate at 5.75%. The monetary policy stance, understood as the real ex-ante reference rate, remains in restrictive territory.

In June, monthly inflation was 0.32%, and annual inflation was 7.18%, slightly higher than the previous month's figure. The result was close to the expectations of market analysts who, according to Banco de la República's survey, expected a monthly variation of 0.28%.

The Big Data Consumption Index accelerated in June, in an environment of lower inflation and interest rates, and the initiation of payments for provisional fund withdrawals. On the other hand, the Big Data Investment Indicator accentuated its contraction.

The labor market in May showed a gender gap in the national unemployment rate of 3.1 percentage points, the lowest since 2010, highlighting an advance in gender equity in Colombia.

In May, the national unemployment rate stood at 10.3%, 0.2 pps lower than a year ago. Employment grew by 463 thousand new employees. The gender gap in unemployment was the lowest since 2010. The arts, construction, food services and public admi…

In the last 5 years, the effect of “Mother's Day” drove the arrival of 6.5% more remittances in the month of May, compared to the trend marked by the adjacent months of April and June. In 2024, this translates into an amount close to 364 millio…

June inflation was 0.12% MoM. The result for the month is explained by the increase in the prices of foods such as fish and potatoes, moderated by the decrease in the prices of chicken, some fruits, and fuel. The year-on-year rate was 2.3% (2.0% in May) within the Central Bank's target range.

The last two years in Latin America have been marked by differences in macroeconomic policy strategies. Chile and Peru have made significant interest rate reductions as their inflation has allowed. Meanwhile, Colombia and Mexico are more reluctant to implement significant reductions in their rates.