Colombia latest publications
The ability to cope with financial shocks from one's own resources is called financial vulnerability. It is measured as the period of time that individuals can survive by covering their needs if they lose their main source of income and without using credit.
We have just done our forecasting exercise for the global economy and the Colombian economy, and we are seeing the glass get a little fuller. We do not see a world with spectacular growth, but we do see a world in which uncertainty is less than it was a few months ago, allowing world growth to stabilize.
Colombia meets its potential growth level, driven by an accelerating internal demand.
It is time to recapitulate what 2019 left us and what we should focus on in 2020. The year that has just ended left us in terms of the global economy great episodes of volatility marked by commercial issues but also by eternal political-economic novels such as Brexit.
They approved a new tax reform which they have named "Growth Law". I think that the reform does things that can indeed help us grow but also does others that perpetuate historical criticisms of our tax and social security contribution system.
The world became more complex for all in economic terms because of the increase in trade tensions between the great powers. Uncertainties that negatively affected the financial markets generating great volatilities in the stock markets, as well as in the debt and currency markets at a global level.
We are now entering the countdown period to end 2019 and the November inflation data continue to show a similar trend to that of previous months. Inflation stabilizes at 3.8% per year, similar to our year-end estimate.
They published the results of the PISA 2018 tests which are a great indicator of the abilities of students from 79 countries in the world in reading, mathematics, and science. These show great challenges for countries of all income levels but also give hope for those who are not doing so well.