Total government expenditures account for 27.9 percent of the domestic economy. External debt equals 39.9 percent of gross domestic product. A strong fiscal climate was reaffirmed by a boost in bond ratings. Annual inflation closed 2017 at 4.09% YoY (vs. 5.75% YoY in 2016). The average national unemployment rate in 2017 was 9.4%, although the informality is the biggest problem facing the labour market (the income of formal workers climbed 24.8% in 5 years while labor incomes of informal workers rose only 9%). Colombia has free-trade zones (FTZ), such as Zona Franca del Pacifico, located in the Valle del Cauca, one of the most striking areas for foreign investment.