Colombia | The winds of August and decisions to boost reactivation

Summary

Present fears of a delayed economic recovery persist. Although the second quarter 2024 results are expected to be better, quick decisions are needed to generate more growth in the short and medium term and take advantage of the regional and local tailwind.

Key points

• Key points:
• Figures for the second quarter will continue to show weak investment, as well as a consumption of goods that has not yet started to grow dynamically and a less dynamic consumption of services. With this, we expect growth to gain traction in the second half of the year and the economy to grow above 2% per year, so that for the year as a whole it will grow close to 1.8% per year.
• The two great challenges facing Colombia today are to grow more in order to increase the size of our economy, the size of the cake that we can share among all, and to reduce regional heterogeneity.
• These two major challenges are opportunities for the private sector. Speed in action will be a key driver for actions to bear fruit quickly in the country's growth.

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