Colombia’s Gross Domestic Product could have fallen 0,7% between January and March - being this the second consecutive significant loss. This means that Colombia would be in recession, Finance Minister Oscar Ivan Zuluaga admitted this week. Industrial production decreased 7,5% in the first quarter of 2009.
The Minister stated last year that Colombia wouldn’t be affected by world’s crisis. However, Zuluaga said that the goal of 0,5% growth in 2009 remains, and that there are good signs for the rest of the year, like the strengthen of the peso.
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