as investors seek shelter and save assets caused by the renewed uncertainty owing to the spread of the Delta variant and also due to the increase in Colombia's risk premium. However, with the projection that the central bank will start the new monetary tightening cycle, and if as expected, Congress approves the proposed tax reform to which I will refer in a minute, it is likely that the Colombian peso will seek a level close to 3700 pesos per dollar in the next few months. The government has presented a new tax reform that seeks to increase tax revenues by 15 trillion pesos, or 1.2% of GDP. The additional revenue would mainly originate from increasing the corporate tax rate to 35% starting 2022 instead of reducing it to 30% as approved in the 2019 tax reform. The financial sector, however, will continue to pay a 3% surcharge over the corporate rate until 2025. The surcharge was expected to seize by 2023. Other components of the tax reform include reducing tax-deductible expenses and strengthening legal measures to fight tax evasion and of freezing government spending. This new tax reform has greater political support and is expected to be approved in Congress in the next few months In the meantime, the government expects the fiscal deficit to reach 2021 at 8.6% of GDP, with a primary deficit of 5.3% of GDP. Regarding the current account deficit, it is expected to widen to 4.4% of GDP by year's end, up from the 3.3% of GDP observed at the end of 2020. Pent-up demand should translate into a larger trade deficit that will be partially offset by larger and better priced oil and coffee exports. With respect to Central America, the IMF expects a 5.7% growth of the region's economy in 2021. As discussed in the past, Central America greatly benefits from the recovery of the US economy, as certain Central American countries are highly dependent on h- cash remittances incoming from the United States. Economic growth of the region should be positively impacted by the infrastructure sector as these countries that were affected by storms, Eta and Iota need to invest heavily in the reconstruction works. During the first two months of the second quarter, Panama estimated an annual GDP growth of sixteen and a half percent in during the same period, Costa Rica estimated GDP growth of 12.3%. Panama benefits from the reactivation of global trade and foreign investment given its role as a global maritime transportation hub, and the consequential increase in canal activity. In Costa Rica, 6 out of 15 economic sectors reached pre-pandemic production levels. Remittances have searched year and year 55% In El Salvador, 43% In Guatemala, and 44% in Honduras. Annual economic growth estimated for the first two months of the second quarter was 28.1% in Salvador, 15.8% in Guatemala, and 28.4% in Honduras. Guatemala, Honduras growth will be boosted, as I said before, by increases in fiscal spending to reconstruct damaged infrastructure after dimensioned storms. Finally, based on leading indicator year-on-year, economic estimated growth reached 15.2% in Nicaragua during the first two months of the second quarter. Despite internal and external favorable economic conditions, growth in Nicaragua could be limited by the challenging political context. Moving on to the status of our loan relief programs. As of June, we had active reliefs represented approximately eleven and a half percent of our total consolidated loan portfolio, or approximately 24.5 trillion pesos in loans. In Colombia, as of June 30, active relief amounted to 8 trillion pesos or 5.9% of the Colombian loan portfolio, including 7.7 trillion in structural agreements with clients. In Central America, reliefs amounted to sixteen and a half trillion pesos, representing 20.9% of the region's portfolio. These reliefs in Central America were driven by Panama, which accounted for more than half of the region's active reliefs. Of all loans in both geographies that have concluded the relief periods, those currently past due 90 days or more, represent only 1% of our total consolidated loan portfolio, and those currently past due 30 days or more represent 1.8% of our total consolidated loan portfolio. Our cost of risk as, it's been booked, reflect our estimation of losses related to the complete unwinding of these relief programs. We continue to execute our digital strategy in accordance with our expectations. Allow me to elaborate. As I have mentioned before, we have prioritized the transformation of our core products into digital solutions and the digitalization of core processes in our backs. We believe that both those efforts will yield additional net income via additional sales revenues and cost savings. We have successfully concluded the digitalization of most of our retail bank products, products and are now in the process of rolling those out to all our banks. This has led us to increase our digital retail sales substantially. In Colombia, 60% of all sales of retail products for which a digitalized solution has been developed are currently conducted through the di- digital applications and 40% of those are end-to-end digital sales without human intervention. These sales represent almost 40% of our total digitalized and non- digitalized retail products sold. In Central America, approximately 25% of total sales our sales of digitalized products. As part of our IT transformation process, our digitalization effort is cloud-based, allowing us to scale up faster and cheaper than with traditional IT infrastructure models. Allow me to explain. First, all of our digital products are already 100% in the cloud, or cloud-native. As a result, we do not need to further invest to migrate the infrastructure of our digital products to the cloud, because we're already there. Secondly, our centralized data platforms in our digital labs, such as Augusta and Matilda, are also in the cloud, allowing us to be more efficient in our processes, reduce operational costs, and increase our client penetration. Matilda is a marketing platform, which has led us… which has allowed us to acquire new digital clients and what we currently believe is the lowest acquisition cost in the market. These adds to the capabilities of our data platform Augusta, which has allowed us to improve our cost of client acquisition, cross-selling, customer retention, and risk mitigation, among others through advanced analytical models. As of June 2021, our active digital clients totaled 5.2 million, increase in approximately 31… 5.2 million, increasing approximately 31% in the last 12 months. Even though adding active digital clients is a necessary step for digital transformation, obtaining long-term sustainable value as a result of this effort is the primary objective. High acquisition costs of digital clients have led us to be watchful of where we de- have denominated net loss growth associated with one transaction users or those that lack potential to be monetized. In Colombia, a country with very strict usury rate restrictions, transactional platforms with low or no fees will find it difficult to sell profitable banking products regardless of the number of digital customers. We have been working in alternative ways to acquire new digital clients that meet our profitability criteria, leveraging ecosystems that provide services that are valuable to our clients, and were profitable products of our banks are part of the