The Minister of Finance, José Antonio Ocampo, revealed his economic expectations that the Colombian Government has for 2023, it is expected, for example, a drop in inflation and also in interest rates.
In addition, the head of the ministry said what will be the future of three important companies for the country in different sectors: Ecopetrol, Monómeros and Colpesiones.
Ocampo said that the Government is studying the possibility of buying monomers, by the amount of food imports that the country is doing.
«We cannot become large importers of corn. That’s a national shame. There are projects to make us less dependent on imported corn, as well as soybeans and other foods,» he said.
The idea is that Colombia produces more fertilizers, on a large scale, in Monomers.
«There is the possibility of buying monomers. You have to see the cost and if there are legal problems with the United States so that Monomeros can operate without legal restrictions. I know it could be partly bought by ecopetrol and partly private investors who would be interested in being partners», explained the minister.
Regarding the future of the energy sector, the minister indicated that there will be a strict energy transition, but maintaining oil exports at levels that will allow us to have the foreign exchange that the country needs.
In the case of Colpensiones, Ocampo added that the idea with the pension reform is to give an income to all older people who do not have a pension, especially the poorest and that not all workers would be in Colpensiones.
«Colpensiones have some workers up to a certain salary level, which will have to be defined. Above that there will be pension funds, but there could also be a public entity eventually participating in the capitalization system, which will now be complementary to Colpensiones. These funds must continue to claim government debt securities, an essential issue for public finances«, he pointed out.
Finance Minister: «Oil transition will last about 15 years»
How to handle the slowdown and avoid falling into a recession