Colombia's Economic Growth Expected to Increase to 1.7% in 2023

Good news for Colombia! According to the latest report by the World Bank, the country's economic growth is expected to reach 1.7% in 2023, which represents a significant increase from the previous forecast of 1.3%. Meanwhile, Latin America and the Caribbean seem to experience a slowdown in growth to 1.5%.

Why is economic growth improving in Colombia? According to the World Bank report, this is partly due to restrictive policies being implemented in some advanced economies. Additionally, export demand is also driving this increase.

While this is encouraging news for Colombia, the report also warns of greater risks that may arise in 2024. Although this is something to keep in mind, for now, forecasts point to a bright economic future for Colombia in the coming years.

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