The World Bank (WB) updated its forecast for Colombia's economic growth for 2022, raising it from 4.1 to 4.4%, a figure that, according to the multinational financial organization, is equivalent to almost double what the region's Gross Domestic Product (GDP) will grow this year.
In its biannual report on 'Economic Outlook, 'published on Thursday, April 7, the world issuer noted that, despite the deterioration in the quality of Colombian employment and a public debt of 70%, they have high expectations for the improvement of Colombia's economy this year, due to the progress of the National Plan for Covid-19 vaccination.
As detailed by the World Bank, progress in vaccination against covid in the country allowed the Colombian economic recovery to be accelerated. In fact, the agency noted that, otherwise, there would have been an uptick in Colombia's poverty levels, as well as other negative social factors that impede the development of the Nation.
However, economic projections for the rest of the region did not have the same positive expectations as Colombia. In the semi-annual report known to EFE, the Washington-based institution reduced economic growth prospects for Latin America: by 2022 it forecast by 2.3%, while by 2023 it fell from 2.7% to 2.2% and placed the figure for 2024 at 2.4%.
Thus, while Colombia's economy is expected to grow by 4.4 per cent this year, expectations in other nations in the region will be lower: Bolivia (3.9 per cent); Argentina (3.6 per cent); Peru (3.4 per cent); Uruguay (3.3 per cent); Chile (1.9 per cent) and Paraguay (1.5 per cent). According to the World Bank report, the country that would have the closest growth to ours would be Ecuador, with 4.3%.
For North America, Central America and the Caribbean, global issuer projections are: Panama (6.5 per cent); Dominican Republic (5 per cent); Saint Vincent and the Grenadines (4.2 per cent); Costa Rica (3.4 per cent); Guatemala (3.4 per cent); Honduras (3.1 per cent); Nicaragua (2.9 per cent); El Salvador (2.9 per cent); and Mexico (2.1%).
The World Bank's chief economist for the region, William Maloney, indicated during the presentation of the report that, if these economic forecasts are confirmed, growth in Latin America and the Caribbean will be among the lowest in the world, becoming very similar to those in the Middle East and North Africa, so reported the news agency EFE.
As for what the Colombian economy holds in the next two years, the international issuer expects that by 2023 the country's economic growth will slow by 3.5%, while by 2024, the World Bank estimates that the figure will be close to 3.3%. The data, according to the agency, will depend on how the reactivation process proceeds, as well as on the resolution of the conflict between Russia and Ukraine.
KEEP READING
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
