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Financial News: OECD: Colombia's GDP Growth Will Reach 3% In

OECD: Colombia's GDP Growth Will Reach 3% In 2018 And 2019

11/28/2017 - 15:57:00 (RTTNews)

(RTTNews) - The Organization for Economic Cooperation and Development (OECD) estimates that the Colombian economy should grow in 2017 at a 1.7% annual rate.

According to its latest report, OECD expects that in 2018 and 2019 the Colombian Gross Domestic Product (GDP) will increase by 3%, given that the reduction of the business tax, the signing of a historic peace agreement, the improvement of the financial conditions and the launch of infrastructure projects will catalyze investments.

Also, the rebound in activity and a stable exchange rate will put a brake on the slowdown in inflation.

The OECD also noted that as inflation stabilizes within the target range (between 2% and 4%), monetary policy is expected to remain neutral during 2018 and 2019.

"Colombia is exposed to global financial volatility due to its high external financing needs, although they are moderating. The levels of indebtedness of households and the business sector are at historical highs. Even so, the financial system has shown resilience to the growth slowdown," the OECD said in its report.

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