Colombia Economic Outlook. First quarter 2020

Colombia meets its potential growth level, driven by an accelerating internal demand.

Key points

• Key points:
• After growing 3.2% in 2019, the global economy is set to expand 3.2% in 2020 and 3.3% in 2021, less than posted in previous years
• For Colombia, 2019 was a year of contrasts and significant uncertainty, amid consolidation of economic growth
• A healthier balance of economic activity is expected in 2020, despite growth standing close to 2019 levels
• Global uncertainty and the imbalances affecting the Colombian economy are set to exert pressure on the exchange rate in Colombia, partially affecting inflation
• The country should meet its short-term fiscal targets thanks to extraordinary revenue, while structural challenges remain

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