Colombia | Economic recovery and prospects 2022-2023. Colcob Forum.

Summary

The Colombian economy grew by 10.6% annually, driven mainly by consumption. By 2022, robust growth is expected in the global economy. For Colombia, a more moderate recovery is expected to continue with high inflation and a contractionary interest rate.

Key points

• Key points:
• The global economy is in a phase of growth moderation, with high inflation and anticipated withdrawal of monetary stimulus.
• The Colombian economy grew 10.6% annually in 2021 showing significant resilience.
• Private and public consumption was the main driver of the economy in 2021.
• Business confidence increased significantly, as they rapidly reduced their inventories and increased perceived demand.
• We expect inflation to close 2022 close to 6% accompanied by a contractionary monetary policy.

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