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Colombian central bank trims forecast on growth

Tuesday, July 31, 2012

Colombia’s central bank sees a slower and more uncertain rate of economic growth next year, as European debt turmoil creates a volatile market for the country’s oil, coal, coffee, gold and nickel exports.

The economy will grow 2 percent to 5 percent in 2013, compared to a forecast of 3 percent to 5 percent this year, central bank chief Jose Dario Uribe said.

The Colombian economy’s long-term potential growth rate is between 4 percent and 5 percent, he added.

Source: Bloomberg