President of Andi in the fall of industrial production

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president of Andi in the fall of industrial production

Bruce Mac Master, president of Andi, said on Tuesday that the country should find key ways amid the country’s slowdown.

“The country has accumulated nine months of deterioration in indicators of demand, production, sales and business climate, which points to the necessary and urgent creation of a strategy that promotes economic growth in the short and long term,” said Mac Master.

The union leader assured that “it is time to take concrete actions to counteract the effect of the slowdown and the already obvious decline observed in the third quarter of the year, which will certainly end with a GDP growth of only 1%.”

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Mac Master mentioned that growth at this rate is “not enough” for the country to improve in social indicators.

It is worth noting that the national GDP fell by 0.3% in the third quarter of this year, consolidating the slowing trend marked this year.

The statements of Bruce Mac Master took place within the framework of the publication of the Joint Industrial Opinion Survey for September, which records the slowdown of the Colombian economy between January and September.

According to the document, during this period production fell by -3.3% and real sales by -3.4%. Sales in the local market fell by 4.1%.

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Among the main difficulties reported by companies in developing investment projects are interest rates (20.6%): uncertainty due to reforms and political instability (18.7%); low demand (17.2%); the exchange rate (12.4%) and economic uncertainty (12%), and others.