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"The forecasts for 2018 and 2019 are promising and are supported by stronger growth in Colombia’s trading partners,” stated ECLAC in its mid-year regional breakdown.

The 2.8% figure is the best result in any second quarter since 2015 and up from the 2.5% growth seen in the same period during 2017.

This quarterly GDP growth represents an uptick from the meager 1.8% full-year growth in 2017 and is well above the 1.3% growth in the first quarter of 2017.

The low projection is below the bulk of more optimistic predictions from various other groups that have weighed in.

This was worst performance in eight years — below even the sluggish 1.96% growth of 2016 — and represents the third lowest rate this century.

Growth will be driven by higher commodities prices, improved household consumption, and a more balanced performance across various sectors.

The prediction is slightly below the 3.0% and 2.9% forecasts from the World Bank and IMF, respectively.

The IMF projection is in line with the 2.9% prediction issued last week by the World Bank.

Looking further ahead, the World Bank has forecast Colombian GDP to increase by 3.4% in both 2019 and 2020.