The government expects 5% growth and 6.2% fiscal deficit for 2022

The government’s opinion economic recovery The fiscal figures for 2022 are optimistic and are based on the impact of the revitalization on public finances. This is how the growth forecast for this year rose from 4.3% to 5%, while the fiscal deficit is expected to continue declining and stand at 6.2% of GDP.

The Minister of FinanceJose Manuel Restrepo on Friday presented the initial fiscal 2021 closure and updated fiscal plan for 2022 and announced that the economic growth forecast for 2021 is 9.7%.

Minister Restrepo emphasized that the reduced capacity constraints, progress in the vaccination plan and measures implemented by the national government to promote the process of economic revitalization have helped to accelerate the growth of the economy and labor market recovery.

Economic growth forecasts exceed the 6% for 2021 and 4.3% for 2022 that were projected in the United States Medium-term fiscal framework.

The growth drivers will focus on the sectors of industry and the large branch of commerce, as well as the dynamics of internal demand. With these results, Colombia will strengthen itself as one of the leading countries in terms of economic recovery At the global level, above a large part of the advanced economies and counterparts in the region,” the Ministry of Finance said in a statement.

The fiscal deficit for 2021 could have reached 7.1% of GDP, as a result of higher tax collection, as total spending remained stable compared to the microfinance scheme.

Leave a Comment