Colombian economy set for recovery in 2018

Subject

Colombia economic update.

Significance

Latin America's fourth largest economy is set to recover slightly in 2018 after three years of slow growth. An expanded budget, ambitious infrastructure plans and the advancement of two peace processes are all feeding into a sense of optimism for the future. However, upcoming elections, continued insecurity and corruption scandals all have the potential to weigh on that optimism, and with it, the economy.

Impacts

• GDP will grow faster than many other Latin American nations, making Colombia more attractive for foreign investors.
• Economic diversification should help advance Colombia’s OECD membership accession process.
• Colombia is unlikely to return to the growth rates of the era of high oil prices anytime soon.