In three to four sentences explain why Columbias economy is not growing and what the government is planning to do about this.

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Jaylon Chan

6 March, 01:23

In three to four sentences explain why Columbias economy is not growing and what the government is planning to do about this.

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Bennett Sutton · Answer 1

It's not that it is not growing. It is growing very slowly. Like most economies that are dependent on oil revenue, Columbia is really struggling with the world oil price (this is a whole study in itself and you really should develop a firm understanding of what is going on. It isn't oil that's the problem. It's the pricing structure of oil that's the trouble.)

So they need a better price for their oil.

They are doing the same thing that the place where I live is doing (Alberta Canada). They are turning more and more to creating manufacturing income which is not related to oil and agricultural exports. They need keep on encouraging manufacturing.

They need to cut the effects of corruption which the judicial system is also progressing to do.