Thursday , December 3 2020

OECD estimates an increase in Colombia's economy in 2018 and 2019



Paris, 21 Nov. (EFE) .- The OECD today has ensured the strengthening of the Colombian economy. Improvement of infrastructures, reduction of corporate taxes and oil prices.

In the Perspective Perspective report, the Organization for Economic Cooperation and Development (OECD) pointed out that the increase in gross domestic product (GDP) will rise to 2.8% in 2018 and to 3.3% in 2019. It is. Either way, one tenth of what was announced six months ago.

The body applauds an vurg adequate d monetary policy, but requires greater productivity through competition and trade, increasing productivity and emphasizing that informality and inequality remain high.

The analysis shows that, due to the lower interest rates and the revival of consumption, the growth is gradually consolidated, due to the reduced interest rates in inflation and the real income of households.

The OECD thinks that the "timely" movement of the central bank has lowered inflation to a 3% target, and that monetary policy is expected to continue its "adaptive" and "prudent" fiscal policy until the government deficit falls to 1%. GDP in 2022.

The agency pointed out that oil revenues in 2018 will increase, but called on Colombia to implement additional measures to increase spending efficiency and increase revenues to meet fiscal rule.

In terms of efficiency, he believes that implementation of structural reforms will support regions to achieve a more balanced development; this will help companies to become more competitive and create better-paid jobs by improving roads and ports.

While acknowledging that informality has fallen in recent years, almost half of employees work on land, reducing recruitment costs, reviewing the minimum wage, and connecting to social security.

The retirement center also needs reforms, and the organization advocates because the existing coverage is duyuy mostly lar for its very unequal mevcut and those with high salaries.

The OECD shows that the end of the armed conflict may present additional potentials to the tourism sector and that there may be additional risks due to the international context such as postponement of infrastructure projects and increased global protection and uncertainty. Politics in the region.

"The increase in immigration flows from Venezuela could increase spending, but if managed well, it could also provide medium-term growth," he concluded.


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