Moody’s forecasts fiscal deficit at 7.6% of GDP and GDP growth at 4.8%

Moody´s updated its fiscal forecasts for Colombia and now foresees that the General Government deficit will end 2020 at 9.7% of GDP, previously it was 9.2%. The firm’s analysts are also more pessimistic about the fiscal deficit forecast for 2021. Now they see it at 7.6% of GDP when in their August report they expected it at 5.1% of GDP. The agency now sees a growth of the local economy at levels of 4.8% in 2021, being less than the 5.3% projected before.

Source: Valora Analitik