Colombia adjusts projection of fiscal deficit for 2020 at 8.9% of GDP

Colombia adjusted its forecats of the Central National Government´s fiscal deficit to 8.9% of GDP, while reducing its projection on the performance of the economy to a contraction of 6.8%. The Government had a fiscal deficit target of 8.2% of GDP for 2020 and expected a contraction of the economy of 5.5%. In 2021, the Government expects the economy to grow 5% and a fiscal deficit of 7.6% of GDP. The previous estimate contemplated a growth of 6.6% and a deficit of 5.1% of GDP.

Source: Reuters