Colombia | Gradual recovery in a challenging international and local context

Summary

Over the last few weeks we have been reviewing our global and local economic outlook scenario and the year economic performance has been especially challenging due to the change in international conditions, mainly.

Key points

• Key points:
• The intensification of protectionism and trade tensions in recent months negatively affected global growth.
• The expected response from central banks will offset the deterioration in confidence and global growth will stabilise at 3.3% in 2019 and 2020.
• We expect Colombia to grow 3% in 2019 and 2020, up from 2.6% a year ago.
• The investment will grow in 2019 boosted by civil works and machinery and equipment. In 2020 will be key the recovery of investment in housing and non-residential buildings.
• Banco de la República will have room to keep its intervention rate stable for much longer, at least until the end of 2020.

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