Colombia

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Colombia

COVID-19 Update:

Cases: 2,226,262

Deaths: 58,834

Recovered: 2,120,366

Economy:

Economists in Colombia affirmed that the recovery of the country would be among the best in Latin America.

While J. P. Morgan believes that Colombia’s GDP growth this year could reach 6%, after the impact of the Covid on the economy, Corficolombiana sees an increase of 5.3%.

They also point out that their forecast now has greater protection against the deep hole in the economy and that the new restrictions in January may have meant. Given that the restrictions were reducing at the end of January, the first quarter of this year is expected to have an economic performance even higher than initially expected, says JP Morgan, “opening the door for Colombian growth to reach 6 points this year”.

Although this level does not reach that of other emerging economies in other continents, “it would be among the best in Latin America.”

Among the concerns, is the recovery of employment without including some sectors and the increase in the informality.

End of lockdown:

Every day the Capital of Colombia has been reducing the restrictions of Covid, the lockdown by ID is still in force, this measure controls the people on the streets. However, the Mayor of Bogotá, Claudia López, is evaluating the possibility of removing the measure as of 19th February, because of the decrease in the number of cases in the capital.

The Mayor also assured that it has been shown that some measures, such as taking the temperature or controlling assistants in closed places, are not effective, so they will be more flexible and now it will be more important to demand the proper use of masks.

Employment:

Bogotá plans to create 300,000 jobs and support 60,000 companies in the reactivation of the economy. Around 6.8 billion of pesos (currency in Colombia) will be invested in 4 goals for the economic reactivation of the city.

With the aim of reactivating the economy of the capital, the Mayor’s Office of Bogotá will invest this year up to 6.8 billion of pesos, in four different goals, these will focus on creating or managing 300,000 jobs, supporting or establishment 60,000 companies, training 100,000 people and formalize 10,000 companies in the capital.

 

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