How much has the Colombian economy grown in the last 6 presidential terms?

Former Minister of Finance and Public Credit and former president of Ecopetrol, Juan Carlos Echeverry, recently published a graph showing the evolution of the growth of the Colombian economy over the last six presidential terms, during which four presidents have passed.

(Read: Diesel price hike could be transferred to private vehicles such as pickup trucks).

The image presents consolidated data from the periods in which Álvaro Uribe Vélez, Juan Manuel Santos, Iván Duque and Gustavo Petro were in office.

The measurement covers the period from 2002 to 2023 and adds up the cumulative figures for the six periods.

(Also: Dollar closed with losses on Friday after the fall in the unemployment rate in the US.).

According to the graph, in the first presidential term in which Álvaro Uribe was in office (2002, 2003, 2004 and 2005), the cumulative figure was 14.8%.

For his part, in his second term, after being re-elected, former President Uribe managed to get the Colombian economy to grow by 9.9% in the cumulative periods of 2006, 2007, 2008, 2009 and 2010.

Arrival of Santos and Duque

Following the departure of Álvaro Uribe, his successor, former President Juan Manuel Santos, led the Colombian economy to grow by 16.3% between 2010, 2011, 2012 and 2013, the period with the highest cumulative growth in this measurement.

In his second term, Santos achieved economic growth of 3.1% (2014, 2015, 2016 and 2017).

For his part, Iván Duque achieved cumulative growth of 5.9% despite the sharp decline that the economy suffered in 2020 due to the Covid-19 pandemic.

(Besides: Special article for transporters will be included in the draft labor reform).

Finally, the graph shows that during the first year of President Gustavo Petro’s government, the economy grew by 0.4%.

For former Minister Echeverry, these figures show that the current government is indebted to Colombia’s growth.

PORTFOLIO