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The Government submitted, the fiscal reform bill that includes social measures, mostly transitory, to mitigate the effects of the pandemic on the most vulnerable and raises tax collection by 15.2 trillion pesos permanently, of which 70% from corporate taxes and the rest from anti-evasion and austerity measures.
Consumption in July consolidates the good dynamics observed in the first days of the month and is 16.0% above that recorded in the same period in 2019, the highest record observed since January 2020.
In 2021 and 2022, economic growth will be driven by the strong dynamism of internal demand and the global economy. Transitory factors will put pressure on inflation and the risk that it will take time to return, with higher activity, will lead the Central Bank to begin a tightening cycle of rates in late 2021.
The BBVA GDP tracker allows us to measure the performance of economic activity in real time, including big data variables from transactions in BBVA Colombia. With the most recent data, we estimate that growth in the second quarter of 2021 will be between 12.4% and 14.3%.
Consumption in July maintains the good dynamics observed in June and is 14.9% above that recorded in 2019 and 2.1% above that recorded in June. Goods recovered compared to June and are 27.6% above their pre-pandemic level, services are 5% below.
July 8, 2021
Global | Big Data and Economics: Statistical Challenges in a Society with Large Data Pools
In the seminar of the Universidad Internacional Menendez Pelayo it is shown how the COVID crisis has triggered a rapid demand for “real time” economy, just as the asymmetric impact of the crisis and mobility have enhanced the “high-definition” component of Big Data.
Consumption growth rates remained high in June despite most of the base effect on year over year terms having been corrected.
The approval of the "shared leave" contributes to the closer inclusion of fathers in the care of their children and to the improvement of women's working conditions. With the approved bill, the couple has the freedom to choose how to share the care of their children and allow men the privilege.