Colombia has achieved a new record in investment rates for the first quarter of 2014, according to a press release from the Ministry of Finance on Thursday.
Colombia’s Minister of Finance Mauricio Cardenas announced that investment as part of the gross domestic product in Colombia had reached 30.4% through the first three months of this year.
According to Cardenas, this is an “historical record” as “investment is the seed of economic growth.”
The Finance Minister went on to explain that the investment rate for the first quarter of 2014 exceeded the previous year’s by 2.8%, which was at 27.6%.
The year 2013 also saw a 2.8% growth during the first quarter from the same period in 2012.
MORE: Colombia lowers economic growth expectation for 2013
“Greater employment and household confidence are the foundation of good economic times,” said Cardena, who added that Colombia’s soaring investment rates have created a situation that should attract foreign investment and entrepreneurs with the creation of more and better jobs.
Sources
- Colombia logra record en tasa de inversion para fortalecer crecimiento economico (Ministry of Finance)
