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Colombia’s trade spat with Venezuela is “a blessing in disguise” that may help President-elect Juan Manuel Santos achieve his goal of quickening economic growth to 6 percent a year, said David Duarte, an analyst at research company 4Cast Inc.
Colombia’s economy expanded faster than expected in the first quarter, the statistics agency said today. Gross domestic product grew 4.4 percent from a year earlier, beating a 3.6 percent median estimate of 24 economists surveyed by Bloomberg.
Santos, who said he wants to mend ties with President Hugo Chavez after being elected by a landslide on June 20, has pledged to reach the 6 percent annual growth target within two years of taking office in August. He plans to do so while creating 2.4 million jobs and expanding the housing, infrastructure and oil and mining industries.
“The trade break was a blessing in disguise,” said Duarte in a phone interview from New York. “Colombia’s growth is now much more organic and domestically based.”
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More at:
http://www.bloomberg.com/news/2010-06-24/colombia-venezuela-trade-fight-a-blessing-for-santos-6-growth-goal.html