Analysis by Region - Emerging Markets - Colombia

Analysis by Region - Emerging Markets - Colombia

We have raised our GDP growth forecasts for Colombia to 1.1% in 2023 and 0.3% in 2024, up 0.2ppts each, after strong August growth implies that the economy is handling record high real interest rates better than figures suggested. However, we still expect negative quarterly growth until Q1 2024, owing to the expected impact of El Niño in the current and next quarter.