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Bogotá.- For S&P Global, the Colombian economy will continue to grow below its potential in 2025 and 2026, after having also grown in 2023, with a slight rebound of 0.6%, and in 2024, according to current estimates.
Indeed, according to the rating agency’s estimates, the country’s GDP will go from expanding at a rate of 1.3% this year, to 2.8% in 2025 and 3% in 2026.
The projection for next year is a little lower than that of the Ministry of Finance, which is in the order of 3% and is also below the forecast of the Staff of the Bank of the Republic, which anticipates a rise of 3.5%, one tris above what is considered the potential level.
In addition, the rating agency warned that, «with the slowdown of the local economy, and the deterioration of the payment capacity and indebtedness of households, housing credit decreased almost 2% in real terms at the end of 2023».
He added: «This decrease is the historical maximum of the last decade, since during the most critical years of the pandemic (2020-2021), mortgage credit grew around 5%».
In this sense, he highlighted that «mortgage securitization in Colombia has been an important source of issuance in the capital market for more than twenty years for banking and non-banking entities».
He added: «Unfortunately, during the last three years, the advances achieved in the last decade have been lost. At their peak, mortgage securitizations reached their peak in the last three years,» he said.
