Colombia | Recovery amidst global and local challenges

Summary

The Colombian economy shows a gradual recovery in a scenario of lower rates. Going forward, the economy will gain traction with the dynamization of domestic demand. However, it will face challenges due to still high inflation and interest rates.

Key points

• Key points:
• Globally, growth and inflation remain resilient, reducing scope for interest rate cuts
• The economy shows nuanced signs of recovery: 2.1% growth in Q2, a resilient labor market and declining but still high inflation.
• The Colombian economy will recover gradually, driven by domestic demand that will gain traction through an acceleration of consumption and a gradual recovery of investment.
• Improved economic conditions, together with a boost to the regions, will establish a foundation for capitalizing on growth opportunities.

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