Colombia’s central bank predicts a year-end inflation of 9%, down from the previous forecast of 9.5%, and an end-2024 inflation of 3.5%. The bank also lowered its estimates for 2023 GDP growth to 0.9% from 1% but kept the 2024 growth prediction at 1%. The bank also projects a reduction in the 2023 current account deficit to 4% of GDP, from 6.2% in 2022, mainly due to declining imports.