Macroeconomic Forecast Colombia

End-2007 economic growth figures have impressed on the upside, with GDP growing by an impressive 7.5%, exceeding our estimates of 6.4%. As such, with the Colombian economy in even better shape than we had expected, we are upgrading our forecast for 2008 from 4.8% to 5.1%. We expect private consumption, which accounts for over 60% of GDP, to remain robust, with overall growth expanding by around 5.2% this year, only a moderate easing from the 7.3% growth rate posted in 2007.

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