Colombia Central Bank Lowers Estimates for 2021 Growth, Inflation

RIO DE JANEIRO, BRAZIL – Colombia’s central bank on Monday, February 1st, lowered its economic growth prediction for this year to between 2% and 6%, with 4.5% as the most likely figure, on concerns that recent measures to curb coronavirus will slow economic recovery.

The bank’s technical team had previously said gross domestic product would grow between 3% and 7% in 2021.

The bank also lowered its projection for inflation, projecting it will end 2021 at 2.3% and 2022 at 2.7%, down from a previous estimate of consumer price growth of 2.7% for this year.

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