Reactions to the results of economic activity in Colombia

Between January and May 2022, the ISE registered a growth of 10.63% compared to the same period of the previous year. This was revealed this Monday by Dane in the monthly presentation of the Colombian Economy Monitoring Index.

(Economic activity in Colombia grew 16.5% in May compared to 2021).

Against this report, the main sectors have stated that the figures are positive and that this trend must be maintained.

“The growth of the Colombian economy in May 2022, of 16.5% compared to the same month of 2021, is excellent news for the country that continues to reflect the path of dynamism experienced throughout 2022. We hope that this growth will be consolidated at the end of the year, in line with the forecasts of experts and institutions, but for this it is absolutely necessary to continue promoting legal stability, investment and trust in all sectors of society”, said Bruce Mac Master, president of Andi, after knowing the results of the Economic Monitoring Index, revealed today by Dane.

(Economic activity in Colombia grew 12.0% in April).

The union leader stressed that “The contribution of 4 percentage points from the manufacturing industry in May, demonstrates the relevance of this sector for the national economy, as well as the sustained commitment of the business community to continue working for the development of the country.”

On the other hand, the president of the Andi highlighted that between January and May 2022, the ISE registered a growth of 10.63% compared to the same period of the previous year, while, comparing the same time period of 2021 compared to 2020 , in 2021, the growth was 7.41%.

“These results confirm the importance of having a business economy capable of offering opportunities and employment for Colombians, for which the search for the best conditions for operation and investment in the country must be a national purpose”.

For her part, the director of the Colombian American Chamber of Commerce, AmCham Colombia, María Claudia Lacouturestated that although it is a good figure, it is observed that the production of key elements of the family basket and supplies began to suffer.

“Although the economy shows significant growth in May, according to the ISE report delivered by Dane, the figures show that the production of key inputs for the family basket and industry, such as egg production, is beginning to suffer (- 6.3%) chickens (-5.2%); as well as cassava and plantain (-12.9%), which were affected by a decrease in fertilizer imports due to the international crisis. The economic policy of the next Government must seek that, although growth does not stop, the conditions are met to maintain production and access to competitive inputs that allow these sectors to grow and be a source of income”, said.

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