The Ministry of Finance, headed by José Manuel Restrepo, presented the 2022 Medium-Term Fiscal Framework (MFMP), the tax roadmap for the coming years, and the update of the macroeconomic assumptions for this year.
(Read: Tax collection exceeded the May goal by 114.9%).
First, Minister Restrepo updated the pgrowth projection of the economy from 5% to 6.5%. The minister also presented an increase in the estimates of the price of a barrel, to US$100, while in the Financial Plan presented in February it was US$70.
Likewise, the minister indicated that the representative market exchange rate (TRM) it was defined at $3,924 per dollar, above what the government had been managing since February, at $3,823; and finally, the inflation outlook for the end of the year was raised, and it is expected that at the end of the period it will leave a variation of 8.5%, when at the beginning of the year it was 4.3%.
We project an increase in the growth forecast for this year 2022, this forecast follows a judicious analysis of the numbers we are seeing.
“We see this growth due to the good dynamism of commerce, the manufacturing industry and artistic activities. The revision of the growth of private consumption has also been significant, associated with the dynamism of job creation, and investment would also pick up at a faster rate than expected in the MFMP,” Restrepo said.
The minister stressed that the result we are seeing at the local level “is consistent” with what the OECD said last week, when it revised its growth forecast for the Colombian economy.
(Also: Gross tax collection in 2021 was 173.6 billion pesos).
The minister cataloged 2023 as a year of “economic rebalancing”, I presented a projection of 3.2%, and assured that both investment and exports will be the protagonists. In addition, he said mining and construction are expected to show good growth.
BRIEFCASE
