According to President Santos the Colombia’s GDP will have a nice growth

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According to President Santos the Colombia’s GDP will have a nice growth

Juan Manuel Santos, presidente de Colombia

Juan Manuel Santos, presidente de Colombia

This year the growth of Colombia’s GDP may register in 3%, where will also highlight the non-traditional sector which is tourism and agriculture as an engine of growth, this was what the President of that country, Juan Manuel Santos projected.

In the evaluation of the first president of the country, the level that was established by the Ministry of Finance of 2.7% for this year was located and also earned 1.8% which was what denoted the indicator of aggregate income for the year past, which was also the lowest growth registered in the country for 8 years.

According to Santos, who explained to the radio press, this year is believed to grow 3% without inconveniences and it is a fully adequate growth in the circumstances they are subject to.

He also noted that an adjustment was made and that all indicators showed that the trend is very positive because there are sectors that its growth has been remarkable as tourism and the agricultural sector, which so far is taking off.

According to the statistical authority DANE, the agriculture sector had an advance of 4.9% during the past year and stood out in its performance regarding the others. In radio statements, the President said that he would end his presidential term in August of this year and expects that the nation will grow above the regional average.

The exhaustion that the country had during 2017 and part of 2018 is due to the country’s Central Bank adjusting the interest rate with a total of 325 basis points seen between December 2016 and January 2018 until the void 4.50% which is the lowest level since August 2015.

However, Reuters said that it had ended the cycle to the bottom of the reference rate, where the issuing entity manager who is Juan José Echavarría commented that it did not rule out that there were new cuts in the event where surprises that are favorable for the inflation.

The production of coal in Colombia takes a step back

The extraction of coal in the coffee country, which is also the fifth dispatch of such ore helper had a decline of 1.2% year on year for the last year that closed with 89.4 million tons. However, the dimension was established by its Government.

Colombia coal production

Colombia coal production

Reuters said that obtaining the coal in Colombia during the 2016 had touched the 90.5 million tonnes and it should be also mentioned that it is the highest amount in the history of Colombia.

The Minister of mines and energy, Germán Arce said that the goal for coal was of 89 tons, this was accomplished by the excellent joint work. In addition, stated, that the companies in the sector had a positive response to the challenges presented in the year 2017, and that along with the recovery of ore prices, could continue with the stabilisation process that currently has the sector.

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