There are several events that will mark the fate of the economy in the country during 2022. The presence of new variants of covid-19, the political turn of the elections, the fiscal deficit, global protectionism and cybersecurity are some.
One of the main concerns, according to Report Business by Dataare the possible social restrictions that can occur with the variants.
(Read: Colombia, one of the hotspots in the world for acute hunger).
“While immunity is achieved, the implementation of new social restrictions, as well as commercial or border closures, are not ruled out, situations that would reduce the economic sustainability of the country.“, says Escobar Correa, strategic manager of Sectorial.co.
The political environment in the country is also key. According to the entity, this scenario of elections could lead to a scenario of uncertainty regarding economic actors and the rearrangement of sectors.
Along with this, there is the fiscal deficit and a possible tax reform of the next government that enters. Informa Business by Data establishes that the current reform is not enough to stabilize the country’s finances and recover investment grade. “Situation that would generate risks of new social reactions, with their respective economic implications“, they explain.
The high volatility of the exchange rate makes it a challenge for companies to plan their finances and operations.
For its part, “the high exchange rate volatility makes it a challenge for companies to plan their finances and operations, added to high inflation. These factors have shown weak macroeconomic bases, which becomes a marked risk”, indicates the strategic manager of Sectorial.co.
(What’s more: The crossroads that has the Colombian pension system in crisis).
Another challenge is the global protectionism, defined by the fall in imports and exports. This, for analysts, creates pressure on the development of logistics chains.
Finally, the digital age andt is one of the challenges when it comes to the increase in cyberattacks that threaten the security of companies. According to the Inter-American Development Bank, Colombia’s cybersecurity capabilities are in the order of 2.8 points out of 5, which means a high level of vulnerability
This landscape represents economic sustainability challenges for the country and also for companies, specifically those that have accepted regulations such as business insolvency.
SECTORAL CONFIDENCE
In accordance with Informsectoral confidence toincreased in 2021 during periods of time when coronavirus infections had decreased. This index accounts for measuring the perception, feeling or optimism regarding the opportunities offered by the productive sectors in Colombia.
Sector Confidence Index 2021
Inform
“The higher the Sector Confidence Index, the better the perception of opportunities in the evolution of the dynamics of the sectors of the Colombian economy, while a lower Sector Confidence Index reflects a perception of fewer opportunities to take advantage of and materialize in the short term. and medium term in productive activitiesEscobar adds.
(Keep reading: How the Colombian economy started in 2022).
The Sector Confidence report shows that the perception of economic opportunities in the country increases with situations where there is greater reopening, economic reactivation and trade promotion activities.
BRIEFCASE
