Colombia

The Colombian economy saw a moderate recovery (2.8%) in 2000, after having suffered its most severe recession of the century in 1999. The urban unemployment rate remained high, however, at 20%. The fiscal deficit, in contrast, fell to 3.5% of GDP; the balance-of-payments current account closed in balance; and the downward trend in inflation continued (8.8%). The devaluation of the last two years brought the real exchange rate to a level not seen in seven years. Industrial production and exports of petroleum and of non-traditional items led the growth of the economy. Although it was slowly making a recovery, the financial sector remained fragile, and this limited the supply of financing available to the real sector of the economy.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions