Economy

Colombia: Policy Priorities for Inclusive Development

In series:Better Policiesview more titles

Published on March 26, 2015

Also available in: Spanish

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In recent years, Colombia has made major economic and social advances. Despite this recent progress, Colombia faces significant structural challenges associated with the concentration of economic activity – particularly exports - in a few sectors, low levels of productivity, and high inequality. Embarking on a path towards inclusive growth is vital in the context of successfully eradicating poverty, providing opportunities for its growing middle class and solidifying progress towards lasting peace. The road ahead to high-income status will be demanding and calls for major policy initiatives in areas such as education, innovation, infrastructure and rural development, as embodied in the New Development Plan 2014-2018: Everyone for a new country. Furthermore, the country needs to work towards bolstering government capacities, building strong institutions, and effectively mobilising domestic revenues to facilitate effective implementation of its public policy priorities.