The performance of the Colombian economy during 2021 had a growth of almost double what the World Bank had budgeted for that year, standing at 9.9 percent, four points above the 5.9 percent projected by the agency last June.
This, in addition, places Colombia above the figures at the world level, where the World Bank projects a 5.5 percent growth, 0.2 points less than the analysis presented in mid-2021.
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Likewise, in the region, the estimate of Latin America It is 6.7 percent, 1.5 points more than budgeted. As to South America, the figure is 7 percent. While the average of emerging countries It is 6.3 percent.
The report just revealed by the World Bank also estimates a boost in the Colombian economy for the 2022 4.1 percent, the same figure that they had raised in their previous analysis, and 3.5 percent in 2023.
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In this sense, the World Bank pointed out that the Colombian economy slowed its growth a little this year, to stand at 4.1 percent, “as lift the burden of high import growth driven by investment last year and improve labor market conditions ”.
The agency also highlighted that “the fiscal reform plan approved in September, together with a fiscal rule reinstated following a two-year suspension due to the pandemic, provides a framework for considerable fiscal consolidation in the medium term” in the country.
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In Latin America and the Caribbean, the country that during 2022, according to the World Bank, will have a better economic performance will be Guyana, which will rise 49.7 percent; it is followed by Saint Lucia (9.6%), Barbados (8.5%) and Saint Vincent and the Grenadines (8.3%).
Haiti, for its part, will register a contraction of its economy from – 0.8 percent, being the only country in the region, according to the report, that will have a negative variation.
This is how the countries of Latin America and the Caribbean will grow this year
1. Guyana: 49,7
2. Saint Lucia: 9.6
3. Barbados: 8,5
4. Saint Vincent and the Grenadines: 8.3
5. Dominica: 8,1
6. Bahamas: 8
7. Panama: 7.8
8. Dominican Republic: 5
9. Granada: 4,4
10. Honduras: 4,4
11. Colombia: 4,1
12. Belice: 4
13. El Salvador: 4
14. Paraguay: 4
15. Guatemala: 3,9
16. Bolivia: 3,5
17. Costa Rica: 3.5
18. Peru: 3.2
19. Ecuador: 3,1
20. Uruguay: 3,1
21. Jamaica: 3
22. Mexico: 3
23. Nicaragua: 3
24. Argentina: 2,6
25. Chile: 2,2
26. Suriname: 1,8
27. Brazil: 1.4
28. Haiti: -0.8
Strong global slowdown in 2022
Global growth will slow this year and the situation might be aggravated by the impact of omicron, which spreads rapidly, accentuating labor shortages and logistical problems, the World Bank estimated.
The institution revised down its forecast for global GDP growth for 2022 in 0.2 percentage points, down 4.1% following 5.5% in 2021.
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But it is possible that “economic shocks caused by omicron might further reduce global growth this year, by an additional 0.2 to 0.7 percentage points,” to 3.9% or even 3.4%, the agency added.
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