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Colombia Politics and Economy

Politics

Colombia is a presidential democracy, with a two chamber Congress, composed of the Senate with 102 senators and the Chamber of Representatives with 166 representatives. Members of Congress are elected by popular vote. They have a four years mandate, with a possibility of immediate reelection. Similarly the president, whose term is concurrent with that of the congressmen, is popularly elected for a period of four years, with the possibility of one immediate reelection. Mayors, governors, and councilmen are elected every three years, which is why every 12 years their election is concurrent with that of congressmen and of the president. 

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Economy

Over the past decade Colombia's economy has been characterized by a sustained growth, with an average of 4.3% per quarter, which has translated into the GDP per capita reaching USD 7 thousand a year, and that according to calculations from the Inter-American Development Bank, the World Bank and the National Statistics Department of Columbia the population with a daily income below USD 2.5 decreased by 55% over the past couple of years.

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