Colombia downgrades GDP projection up to 7%

The Colombian government downgraded its projection on the performance of the economy 2020 to a contraction of between 6% and 7%, higher than the 5.5% initially expected, due to a slower recovery amid the coronavirus pandemic, said Vice Minister of Finance, Juan Pablo Zárate. The new estimate is more in line with the projections of analysts and the Central Bank, which expects a contraction of between 6.5% and 9 %. Estimated rebound in 2021 of 5%.

Source: Reuters