Fiscal grievances and setbacks in Havana

COLOMBIA - Report 28 Apr 2015 by Veronica Navas and Mauricio Santa Maria

Executive Summary Private consumption and investment were the key drivers of economic activity in 2014: household consumption was up a faster 5.1% in Q4, despite spending slowdown driven by the deteriorated oil outlook. The consumption of non-durables (33% of total consumption) expanded by 4.5%; its highest rate since Q4 2011, when the economy was still surfing an oil boom. Private demand, supported by a robust labor market, is also being fueled by expanding credit. Yet this does raise concerns over the need for continued expansionary monetary policy. The Central Bank’s real intervention ra...

Now read on...

Register to sample a report

Register