The Colombian government’s projection for economic growth in 2013, set at 4.8%, is “mediocre” and too optimistic, said a Colombian development-oriented think tank Friday.
According to economic think tank Fedesarollo, Colombia’s Gross Domestic Product (GDP) is more likely to expand 4%, which is far behind economic growth in the region where a country like Peru expands an economic expansion of 6%.
FACT SHEET: Colomba’s GDP statistics
Fedesarollo director Leonardo Billar said that his organization’s projection is still optimistic. “There are risks it will be lower because the [pending] infrastructure [projects] will not be complete until 2014,” he told Caracol Radio.
Billar criticizes the administration of President Juan Manuel Santos for taking populist decision in regards to pension and health reforms that could prove a burden for Colombia’s treasury.
