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Colombia’s 2011 Colombian government fiscal gap has grown to $129 billion as Bogota was forced to include emergency measures to deal with last year’s torrential rains and financial reforms in this year’s expenses.
Because of these expenses, the fiscal gap grew from 3.9% to 4.1% of the country’s gross domestic product (GDP), the country’s finance ministry announced Thursday.
According to the government, it would have been able to keep the fiscal deficit at 3.7%, had it not been for the extreme winter weather and high aid and reconstruction costs.
