Special Release 18-03-2019: Venezuelan migration shock in Colombia and its fiscal implications | Spanish version
Since 2000, the quality of life of Colombians has improved markedly. Macroeconomic and social policies have sustained strong GDP growth and reduced poverty. Between 2002 and 2015 the poverty rate fell from 50% to 28%, and extreme poverty fell from 18% to 8%. In terms of wellbeing, life satisfaction is now above the OECD average, although incomes, education and life expectancy still fall short. Reforms have reduced informality and improved the business environment. The peace agreement will further boost economic growth and wellbeing over time.