Indicadores económicos; II trimestre de 2002

Abstract

In the second quarter of 2002 the Colombian economy grew 2.2%, and 1.4% during the fi rst semester, showing a slight recovery with respect to the second semester of 2001. The infl ation rate continued its decreased trend toward the target of 6% for 2002, although with a small increase in the last months due to a temporary rise in the price of food. Infl ation excluding food, was 5% in June, 40 basic points lower than in January, which shows the higher credibility of the infl ation targeting policy followed by the Central Bank. Unfortunately, the achievements in terms of lower infl ation have not been accompanied by a satisfactory economic growth. Due partially to this rate of growth, the unemployment rate is currently at 17.9% in the second quarter, making employment generation one of the main economic challenges in Colombia. With respect to external balance, it remains under control with a defi cit of the current account of 1.9% as a percentage of GDP during the fi rst semester of the year. The level of net international reserves its equivalent to 8.8 months of imports of goods and services, the larger value of the indicator since 1992.