Economy

The Financial Superintendence of Colombia announced that in January the usury rate will be 43.26 percent for the consumer and ordinary credit modality.With this change, the increase in the rate is 180 basis points with respect to the previous period. In December, the usury rate was 41.46 percent and was positioned as the highest since 2007, however, the record is now for January 2023This rate is the maximum interest that a financial institution can charge its customers for consumer and ordinary credit, such as credit cards.In the case of the rate for the microcredit modality, this will be 58.8 percent…

Confirmed the increase in the minimum wage transportation aid, as well as the increase in public transportation fares in Bogotá for 2023, the subsidy will cover 47 TransMilenio tickets per month, from the readjustment that will begin on January 10. This figure comes from dividing the $140,606 in transportation assistance that Colombians who earn a minimum wage will receive, and $2,950 that each trip will cost in this transportation system, after the increase announced by the Bogotá Mayor's Office, at the end of last week. The readjustments also apply to taxi services and the integrated transportation system.​​According to the District…

This Saturday, December 31, the economic relief created in the Social Investment Law of the government of former President Iván Duque expires, as measures created to counteract the effects of the covid-19 pandemic. Programs like Solidarity income or VAT discounts on air tickets will disappear in 2023, situation that could affect the pocket of Colombians.solidarity income The director of the Department of Social Prosperity (DPS), Cielo Rusinque, establishes that Solidarity Income is no longer available and that this month the last transfer will be made to the beneficiaries. “The subsidy had been given in the framework of the pandemic to…

In terms of agricultural exports, Colombia is more than coffee, flowers and bananas. In the national territory there is a high potential to grow exotic fruits that are highly desired by multiple countries around the world; however, there are several constraints that are preventing these opportunities from being taken advantage of.An oversold above the others: the little exportable supplysince these fruits must meet special standards so that they can leave the country, different from those required when the destination is the national market.(Also read: Colombian mango can now be sold in the United States) It is inconceivable that there is…