The Colombian economy will grow by 4% over the next two years according to an Economic Commission report for Latin America and the Caribbean (ECLAC) released Tuesday.
According to the ECLAC, growth will reach 4% in Colombia for 2012 and 2013 – a larger growth than the average Latin American and Caribbean, which is estimated to have a combined growth of 3.2% for this year.
The report said the figure for Latin America had decreased due to the lower performance of Brazil and an adjustment in the Argentina forecast.
“The weakness of the world economy, mainly caused by the difficulties facing Europe, the U.S. and China, has affected the growth of Latin America and the Caribbean, so growth in 2012 will be less than in previous years,” said ECLAC report, in accordance with a DANE report Monday stating that exports in Colombia had dropped by 4% in July.
The report also revealed that by 2013 Latin America and the Caribbean will grow overall by 4%.