After having carried out several urgent issues on the economic agenda, such as the approval of the tax reform and an addition to the budget, Finance Minister José Antonio Ocampo is shown “absolutely optimistic” on the state of the country’s economy.
(Dollar went from $1,700 to $5,000 in 10 years, what caused the change?)
This was stated in an interview with Yamid Amat in EL TIEMPO, in which he analyzed several important points and revealed how he sees the economy for 2023.
One of the issues he referred to was inflation.
The minister trusts that by the end of 2022 “let’s end, I don’t know, at 11, 11 and a half percent,” Since it is observed that the increase in wholesale food prices on the Colombian Mercantile Exchange has decreased and at the international level, food prices have also been decreasing.
(Ocampo hopes that taxes on companies will be lowered in the next tax).
For Ocampo these two elements are positive, which is why he expects inflation to subside next year.
“Thanks to the drop in inflation that we anticipate for 2023, there will be an increase in real wages. Wage earners are going to have a higher income and that helps demand”.
Another of the points that he referred to in the interview was the rise in the dollar that affects the markets.
In this regard, Minister Ocampo said that it is “Many countries have suffered strong devaluations” Y It is not an exclusive subject of Colombia.
(The importance that the Minhacienda Ocampo has had in the Government).
He added that, according to the forecasts of market agents, there is no reason to be pessimistic in this matter and that he is confident that “Finally the dollar is going to stabilize below 5,000 pesos. I think there is no objective reason for it to continue growing.” concluded.
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