Tag: Colombia

In 2023, the economy grew by 0.7%, followed by a 1.7% increase in 2024, driven by private consumption and modest investment as inflation decreased and interest rates fell, according to the World Bank Group. Poverty dropped slightly to 31.3%, with regional disparities persisting. In addition, the gross domestic product (GDP) in current prices in Colombia is approximately 427.77 billion U.S. dollars in 2025. The country’s average inflation stands at approximately 4.7%, per Statista.

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Tight macroeconomic policies in Colombia within the last two years are likely the cause of a reduction in domestic and external imbalances seen mainly in 2021-22. The Colombian economy is expected to grow 1.8% as inflation slows 5% this year, and the central bank plans to cut its interest rate to nearly 8%, according to Finance Minister Ricardo Bonilla.