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This Selected Issues paper provides background information and analysis on recent developments and critical issues for the Colombian economy. The study discusses the unemployment and stresses in the financial system and also focuses on fiscal issues. The following statistical data are presented in detail: national accounts at current prices and at constant prices, savings and investment, value of agricultural crops, mining production, structure of regular gasoline prices, indicators of construction activity, minimum wages, producer price index, interest rates, and so on.
This is an update of OECD 2006 "Understanding National Accounts". It contains new data, new chapters and is adapted to the new systems of national accounts, SNA 2008 and ESA 2010.
This study examines the multi-level governance framework for public investment in Colombia.
Colombia is working towards compiling quarterly sectoral accounts and balance sheets to support domestic policymaking by gaining a much deeper understanding of the interrelationship between the real sector accounts and the financial accounts, and the vulnerabilities that may reside in specific sectors as sources for spillovers to other sectors. Sectoral accounts and balance sheets are critical to help detect systemic risks, vulnerabilities, and possible contagion from economic shocks. The authorities continued to acknowledge the additional benefit from work in this area as it moves towards subscription to the IMF’s Special Data Dissemination Standard Plus and continued accession negotiations with the Organization for Economic Co-operation and Development. The priority is first on establishing timely annual integrated estimates between the National Administrative Department of Statistics (DANE) and the BRC, followed by quarterly estimates.

Colombia

International Monetary Fund. Western Hemisphere Dept.

Published: 2015-06-08

Total Pages: 103


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This Selected Issues paper addresses key areas that would contribute to maintaining macroeconomic stability and inclusive growth. Strong economic growth in Colombia has significantly reduced poverty, but has had limited impact on reducing inequality. Strong growth and social programs have helped reduce poverty. Going forward, efforts to further strengthen education, pension, and tax systems stand to yield important social gains, as recognized by the national development plan. Labor market distortions have declined in recent years, but challenges remain. The elimination of infrastructure gaps will also play a key role in sustaining strong and broad-based growth, and supporting further economic diversification.
In this study, the following statistical data are presented in detail: national accounts at current and constant prices; aggregate supply and demand at constant prices; savings and investment; value of agricultural crops; coffee stocks; production, exports, and prices; volume of manufacturing production; mining production; national production and consumption of petroleum products; structure of regular gasoline prices; indicators of construction activity; minimum wages; producer price index; operations of the combined public sector; operations of the social security system; interest rates; and so on.