In 2022, the Colombian economy grew by 7.5%. Although the number is high compared to the region, it compares negatively to the market’s expectation (8%), which is similar to Econometría’s expectation. Thus, this suggests the beginning of the economic slowdown. Therefore, the 2023 growth forecast is updated to 0.5% with a downward bias. Regarding inflation, the year-end inflation forecast is increased to 9%.
The slowdown has already begun
