VERACRUZ, Mexico, Dec 9 (Reuters) - Colombia’s economy will likely grow between 4.3 percent and 4.5 percent next year, President Juan Manuel Santos said during an international conference in Mexico on Tuesday, a rate below the government’s forecast for a 4.8 percent expansion.
Falling oil prices have dampened growth prospects for Colombia, Latin America’s fourth biggest oil producer and may also eat into public spending, the country’s finance minister said on Saturday.
“Next year we will see growth which according to forecasts will be quite acceptable given what is happening in the region and the world,” Santos said. “The calculation is that it could be 4.3, 4.4 or 4.5 percent,” he added.
Analysts expect Colombia’s fiscal and current account deficits to widen in 2015 as lower oil earnings push the country to issue more debt internationally. The government has estimated a 4.7 percent expansion for this year. (Reporting by Anahi Rama and Alexandra Alper Editing by W Simon)