Publications

Inflation in Argentina closed 2025 at 31.5% year-on-year, its lowest level since 2017, driven by a sharp deceleration compared to 2024. Despite the rebound in the second half due to tariffs and exchange rates, the disinflation process is expected to continue.

The Andalusian economy contracted by 11.2% in 2020 due to the pandemic, severely affecting tourist areas. Growth of 5.4% is expected in 2021 and 6.6% in 2022, driven by the progress of vaccination, the recovery of consumption, and the impact of the European NGEU funds.

The Colombian economy shows signs of recovery driven by domestic demand and private consumption. Investment is expected to rebound from 2025 due to better financial conditions, while the central bank will continue to reduce interest rates amidst a challenging global environment.

The Peruvian economy will grow by 3.1% in 2025 and 2026, driven by a favorable international environment, high metal prices, and the start of major investment projects. In the medium term, growth will moderate to 2.5% due to institutional weakness and insecurity.

The 2024 Economic Censuses show that Mexican MSMEs generate over 71% of employment but face significant gaps compared to large firms. Their low productivity is linked to a lack of formal financing and limited digitalization, which are key challenges to boosting the country's economic growth.

Rice production in Colombia reached record levels in 2024, generating excess inventories and downward pressure on prices. For 2026, a reduction in planted area is expected, which could adjust supply, although climate and tariff factors pose risks to the sector.

The ratio of household indebtedness to GDP remains low, although non-performing loans in credit cards are accelerating. Meanwhile, corporate foreign currency debt to domestic banks is rising, and both the corporate and banking sectors continue to roll over their external debt at high rates.