News about Minimum wage and health reform

The results of the regional elections are expected to be reflected in the government’s decision on the minimum wage, which, if it ends up being closer to the employers’ demands, would be interpreted as a deradicalization of the government. However, the government is not as weak as it is believed to be since the health care reform managed to pass in Congress and the labor reform has resurfaced.

Government in knock-out after regional elections

In the last quarter of 2023, a year-on-year growth of -0.3%, consistent with a growth of 1% for the whole year, and confirming the slowdown announced in previous months. On the political front, as polls indicated, there was a “punishment vote” in most of the country’s main departments and provinces. The latter is perceived as a significant blow to the government and the Historical Pact party. The effects of these electoral results have had an impact on the legislature.

Colombia’s economy is cooling down

The Colombian economy is finally showing signs of cooling. On the one hand, inflation decreased two months in a row and significantly. Additionally, the unemployment rate increased in April, both due to higher labor participation and lower employment. If this data is indicative of the coming months, it would confirm the entry into the cooling phase of the economy and possibly weak economic activity figures.

The government coalition broke

In the last month, the government had an important change in its cabinet since the departure of José Antonio Ocampo (Ministry of Finance), Cecilia López (Ministry of Agriculture), and Carolina Corcho (Ministry of Health), among other ministers and Carolina Corcho (Ministry of Health), among other ministers. In this way, the government cracked the government coalition. Corcho). The replacement of José Antonio Ocampo is Ricardo Bonilla, who retains certain positions of José Antonio Ocampo, and in others is even more orthodox than José Antonio Ocampo.

Will interest rates come down soon? No

Colombia is facing a complex stagflation scenario. Inflation rose to 13.3% in March (y-o-y) and shows signs of remaining above double digits at least until the end of the year. Looking at the disaggregated data, we see a slowdown in food inflation. However, the other components continue to rise, which makes it very difficult for Banco de la República to contemplate a decrease in the interest rate.

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Katherinne Alvarado
Fieldwork Manager
Katherinne Alvarado Acevedo is an Industrial Engineer, with experience in management and coordination of quantitative data collection, she is linked to Econometría since 2019 and has participated in more than 12 consultancies with the firm. Her areas of interest are mainly: Social inclusion, logistics, health, public policy, territorial, urban and rural development, among others.
Katherinne Alvarado
Fieldwork Manager
Katherinne Alvarado Acevedo is an Industrial Engineer, with experience in management and coordination of quantitative data collection, she is linked to Econometría since 2019 and has participated in more than 12 consultancies with the firm. Her areas of interest are mainly: Social inclusion, logistics, health, public policy, territorial, urban and rural development, among others.
Katherinne Alvarado
Líder Trabajo de Campo
Katherinne Alvarado Acevedo es Ingeniera Industrial, con experiencia en gestión y coordinación de recolección de datos cuantitativos, se encuentra vinculada a Econometría desde el 2019 y ha participado en más de 12 consultorías con la firma. Sus áreas de interés son principalmente: Inclusión social, logística, salud, políticas públicas, desarrollo territorial, urbano y rural, entre otros.
Katherinne Alvarado
Líder Trabajo de Campo
Katherinne Alvarado Acevedo es Ingeniera Industrial, con experiencia en gestión y coordinación de recolección de datos cuantitativos, se encuentra vinculada a Econometría desde el 2019 y ha participado en más de 12 consultorías con la firma. Sus áreas de interés son principalmente: Inclusión social, logística, salud, políticas públicas, desarrollo territorial, urbano y rural, entre otros.
Tomas Hamann
Junior Consultant
Tomas Hamann Sanclemente is an economist from the Universidad de Los Andes with a minor in Business Law and has been part of Econometría since 2023. His areas of interest include macroeconomic analysis, impact evaluation, market analysis, and business planning.
Tomas Hamann
Junior Consultant
Tomas Hamann Sanclemente is an economist from the Universidad de Los Andes with a minor in Business Law and has been part of Econometría since 2023. His areas of interest include macroeconomic analysis, impact evaluation, market analysis, and business planning.
Tomas Hamann
Consultor Junior
Tomas Hamann Sanclemente es economista de la Universidad de los Andes con opción en Derecho de los Negocios y hace parte del equipo de Econometría desde el año 2023. Sus áreas de interés son el análisis macroeconómico, la evaluación de impacto, análisis de mercado y planes de negocio.
Tomas Hamann
Consultor Junior
Tomas Hamann Sanclemente es economista de la Universidad de los Andes con opción en Derecho de los Negocios y hace parte del equipo de Econometría desde el año 2023. Sus áreas de interés son el análisis macroeconómico, la evaluación de impacto, análisis de mercado y planes de negocio.
Santiago Noguera
Junior Consultant
Santiago Noguera Cotes studied economics at the Universidad de Los Andes and has been part of the Econometría since 2023. His areas of interest include macroeconomic analysis, impact evaluation, economic development, and the informal economy.
Santiago Noguera
Junior Consultant
Santiago Noguera Cotes studied economics at the Universidad de Los Andes and has been part of the Econometría since 2023. His areas of interest include macroeconomic analysis, impact evaluation, economic development, and the informal economy.