Economic Trends in Colombia: Overcoming Challenges on the Horizon
The Colombian economy is facing multiple challenges in the final quarter of the year. Among them, the possibility of a strong El Niño phenomenon, an economic slowdown, dollar instability, and rising inflation stand out. These factors are causing concern at both the national and international levels.
The Colombian Gross Domestic Product (GDP) faces the threat of not surpassing the 2% threshold, mainly due to the economic slowdown. Additionally, the El Niño phenomenon could worsen the situation, affecting the cost of living by increasing prices of food and energy services.
Internationally, market volatility is due to changes in the monetary policies of major central banks, including the US Federal Reserve and the European Central Bank. This situation adds uncertainty, especially when projections suggest economic growth of around 1.9% at the end of the year.
Prominent economists emphasize the need to boost economic growth and keep inflation in check. A modest economic upturn, around 1.2% for December, is expected.
In addition to global factors, experts consider it essential to address the cost of living. Current inflation is around 10.99%, and the big question is whether it can remain in single digits. Ensuring economic stability is crucial for the well-being of the population.
In this context, businesses face the task of maintaining their growth and profitability. Amid these challenging circumstances, having strategic guidance can make a difference. Although the road ahead looks difficult, there are opportunities for those willing to innovate and adapt.
In the next report, we will explore how Colombian companies are using strategic strategies and guidance to overcome economic obstacles.