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Current account deficit for 2022 reached $21.446 billion and represented 6.2% of GDP, significantly above historical averages.

Associated with the change in fundamental saving and investment variables that the Colombian economy has undergone in the recent decade, the structural current account and exchange rate are estimated in light of these changes. Likewise, forecasts are made for these variables up to December 2023.

In a scenario of soft economic growth with gradual correction of the fiscal deficit such as the one currently underway and with FDI growing to levels similar to those of countries in the region, the external deficit could be financed in the med…