Colombia Reports

Colombian President Álvaro Uribe called on mayors and governors to prioritize public spending to deal with the global financial crisis.

Uribe hopes a push in public spending by government bodies will revive Colombia's construction sector that's always been an important cornerstone for the country's economy, El Espectador reported Wednesday.

The President blames the loss of jobs in construction one of the most important reasons for the increase of unemployment in Colombia and expects foreign investment to fall back after the financial crisis that's hit the world.

By prioritizing the spending on construction, local and departmental governments can avoid a further slow down of growth of the constuction sector, the President says.

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