Wednesday , March 29 2023

Colombia enters recession for the first time in 20 years


Columbia Go inside First recession since 1999 Due to paralysis caused by The global epidemic of the COVID-19 infectious disease, Gross domestic product (GDP) decreased after registration for the second consecutive quarter.

Fourth economy Latin America fell 9% in the third quarter compared to the same period in 2019. The collapse was less than the -15.8% registered between April and June, but National Statistical Office (DANE) In a virtual presentation about media.

last year GDP increased by 3.5% between July and September.However, the positive outlook for 2020 is that the first cases of Corona 19 were discovered in March and buried as containment measures to stop the spread of the virus.

Commercial, transport, lodging and food service sectors (-20.1%); The construction industry (-26.2%) and the mining and quarrying industry (-19.1%) saw their economies decline this quarter.

Finally Colombia experienced a recession in 1999. It posted a negative growth rate of 4.5% due to excessive public and private sector debt and the mortgage crisis.

With a population of 50 million Colombia is the fourth country in the region with the most deaths from the coronavirus. Since the epidemic began, more than 34,200 cases have occurred, and more than 1.2 million cases have occurred as the third case of infection.

Also read: I’m One Year Old: On November 17, 2019, the first case of Covid-19 was registered.


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