According to the Minister of Labor, Colombia’s economy is at risk of falling into recession

Colombia lives on An economic recession It is felt in all sectors. In this regard, first The national government has announced a recovery plan that will help the country get back on its feet.

In an interview with Yamid Amat for EL TIEMPO, Minister of Labor Gloria Inés Ramírez, He said we are in a “The improvement process“Gracias,”It is not only the policies and dynamics that the Republic Bank is taking with interest rates that are essential for the activation of the production chain, but also the public investment policies that are already being significantly improved.“.

(See: Analysis: The country is running out of money and public finances are clearly deteriorating).

Asked if the perils of recession had passed, he opined that things were looking up If the climate crisis does not worsen with the arrival of a La Niña event (rain), “We can move forward“.

“We have not given up on the risk of recession. Globally, this risk is mostly due to wars and arms race. But here we are dealing with shock measures that need to be intensified to avoid recession” he added.

(See: Problems for Diane: Slowdown in collection of various taxes already felt).

He also clarified Risks of recession are always there, But what”They do not depend on the control of government policy, but are closely linked to production processes and the economy. Climate changes, floods, droughts, directly affect the processes. For this reason, the government should think about shock policies, if it comes, we will have the ability to face it and not allow ourselves to be overwhelmed by the crises that the climate crisis will bring us.“.

Questions were raised about the measures taken by the government Mitigating potential climate impacts on national finances, He said he was looking forInvigorate the economy with the popular economic processes we already create. Shock measures such as increasing public investment“.

(See: What is Colombia’s attraction to investors and how to take advantage of it).

And he questioned how public investment would increase if it decreased.In the first months of this year, yes, but we came out of the conference in Boyaka where all the ministers were present, each one presented their operational plan and their investment plan; 49.8% of the national budget has already been committed and about 27% has already been disbursed this year. In other words, effectively, we are already on track to ensure that this investment is realized in the regions.“.

(To read the full interview with Labor Minister Yamit Amat, click here)

(See: Economic plan: High public spending won’t guarantee recovery, experts say).

Summary