Colombia | On the road to the recovery of the Colombian economy

Summary

In LatAm, confinements have begun to be reduced and new infections showed lower levels, although they are still high. In Colombia there was an important reactivation of the economy in the third quarter. The recovery will continue, although at a gradual pace.

Key points

• Key points:
• By the end of 2022, it will recover the level of GDP in 2019.
• Consumption of basic goods remains strong.
• The investment would have had its greatest deterioration in the second quarter of the year and from there began its gradual recovery
• Unemployment will decrease slowly and its return to the pre-pandemic level will be gradual due to the conditions of the market and the recovery
• The estimated inflation for 2021 and 2022 close to the 3% target would allow Banrep to maintain its rates until 2Q 2022

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