The most recent report of the International Monetary Fund, IMF, explains what are some of the macroeconomic perspectives for Colombia during 2022 and 2023.
Initially, the expectations regarding debt and fiscal deficit, according to the international body, are very similar to those of the government of Gustavo Petro. The report shows thatThe fiscal deficit as a proportion of GDP would end 2022 at 3.1%.
(Read: What is coming for Colombia in economic matters? This is what the experts say).
This data is more optimistic compared to the 4% mentioned by the Minister of Finance, José Antonio Ocampo, and much lower than the 5.6% of the most recent Medium-Term Fiscal Framework.
Regarding 2023, the IMF’s economic prospects are more positive. For next year Colombia will account for a surplus of 0.4%. From the government of Iván Duque there had been talk of a surplus close to 1%.
Regarding gross government debt, this would reach 61.1% of GDP. This implies that it would be reduced from the 64.6% exposed by the country towards the end of last year. For next year the debt would continue to be reduced to 60% of GDP.
(Keep reading: Trade balance deficit totaled US$10,861.9 million as of September).
For its part, the Government assured that the The debt goal for Colombia will be around 60% of GDP in the short term. On the other hand, the rating agencies have stated that even though they are positive numbers for the country, they are only a sample of the stabilization of the debt.
That is, not a tendency to reduce it.
BRIEFCASE
