Colombia | Optimism amid uncertainty

Summary

The increase in contagion has led to mobility restriction measures slowing economic recovery. However, for Colombia, the recovery will gradually increase and will be sustained by private consumption, public consumption, and a gradual increase in investment, allowing improvements in the labor market.

Key points

• Key points:
• The beginning of the year in economic terms has been lower than desired, but a better scenario is foreseen for the second half of the year.
• The global recovery is generalized, but with variations by regions and countries.
• In Colombia, the economic recovery will continue to be heterogeneous, favoring sectors that require less social interaction.
• Growth and recovery will favor the creation of new jobs in both 2021 and 2022, but gradually and more biased towards informal than formal job creation.

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