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Colombia sees industrial recovery this year

Monday, November 4, 2013

Colombia's flagging industrial sector will start to recover this year as a series of government incentives filter into business plans and start to have an impact on factory output, said trade minister Santiago Rojas.

Colombia's economy has been hit hard by weak manufacturing, with nine of the last 12 months registering declines in output.

"There should be a recovery by the end of this year," Rojas said, highlighting cuts in import duties on capital goods, a reduction in labour costs and cheap long-term credit.

Source: Reuters