The Economic Commission for Latin America and the Caribbean reviewed the economic growth forecasts for the region for this year and 2025 and confirmed that, in the case of Colombia, GDP growth in 2024 will be 1.3%, while next year this figure will increase to 2.6%.
In May, the Cepal had published its growth forecasts and had the same growth forecasts for the country. Although the growth expectation for this year coincides with that predicted by the OECD, the Organization pointed to a higher growth in 2025, 3.3%.
Other estimates from international organizations such as the World Bank predict the same growth for this year and are optimistic about Colombia’s economic future (3.3% in 2025 and 3.1% in 2026). For its part, the International Monetary Fund showed the lowest growth rate for the country in 2024, 1.1%.
In the regional analysis, the country with the highest growth forecast for this year will be the Dominican Republic with a figure of around 5.2%, followed by Venezuela with 5% and Costa Rica with 4%. In contrast, Haiti and Argentina are the only countries with “negative” growth projections, with declines of 3% and 3.6%.
The southern nation is fighting a battle against a resilient downward inflation while Haiti is experiencing unstable political and security conditions that are hampering such growth.
ECLAC reiterated that the region’s economic growth, which the Commission considers modest, is subject to inflationary pressures around the world that have not yet reached pre-pandemic levels, Added to this is the high interest rates of the world’s main central banks, which are holding back the possibilities of foreign investment inflows.
“Following recent trends, this modest economic growth in the region continues to be conditioned by an uncertain international context, marked by a high level of inflation and interest rates that remain high worldwide, “which tends to delay the return to normality of inflationary dynamics and the cycle of easing monetary policies in the main advanced countries”said ECLAC
