Colombia’s congress agrees to government budget hike

Colombia’s congress agreed to add $4.1 billion (COP16.9 trillion) to the government’s budget for this year.

According to the government of President Gustavo Petro, a tax reform that was approved last year resulted in an increase of tax revenue.

After the addition of these funds, the government’s 2023 budget will be $108.3 billion (COP422.5 trillion).

According to Finance Minister Diego Guevara, the additional budget will be used to counter an economic slowdown.

Finance Minister Diego Guevara

The increase in spending seeks improved success in priority programs for the

Priorities

The funds will be sent to the ministries and agencies that may help implement the government priority policies.

Top benefactors

 

 

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