Colombia’s GDP grew 10.6% in 2021, the largest annual increase since records exist. The recovery of the Colombian economy is a fact, after its collapse of 7% in 2020, Colombia is positioned as one of the countries that will consolidate economic growth in 2021.
At H3 we are proud of the work of the Colombian people since we have all worked to recover what the pandemic devastated in previous years. It is a fact that Colombia is a strong country rich in human capital.
The Government of President Iván Duque, anxious for positive news to alleviate a prolonged popularity crisis in an election year, had anticipated double-digit growth the day before, based on projections by the Ministry of Finance. The president mentioned a figure above 10.2%, and even celebrated it as “the greatest economic growth in our Republican history.”
“This reactivation has taken into account the support for the most vulnerable,” defended President Duque in a recent interview with EL PAÍS. “We have also taken measures to maintain the purchasing power of workers: throughout my presidency, the accumulated real increase in the minimum wage has been 11.6% compared to 11.3% in the eight years of the previous government and 9 .7% from 2002 to 2010. This shows that growth has been equitable”, maintained the president.
