Colombia $2.7b Budget Addition Won’t Widen Deficit: Restrepo

July 21, 2021, 2:15 PM

The 10.5 trillion pesos ($2.7b) in additional spending planned in this year’s budget won’t widen the fiscal deficit which is expected at 8.6% of GDP, Finance Minster Jose Manuel Restrepo said in a phone interview.

  • The government included the budget addition as part of a tax bill sent to congress on Tuesday, which would raise this year’s budget to 343.4 trillion pesos
  • The increased revenue will come from bond sales, higher than expected tax collections from the 2022 withholding tax on companies, spending cuts and higher oil prices
    • Additional debt sale plans for this year and next were already incorporated ...

To read the full article log in. To learn more about a subscription click here.