Colombia’s general budget for the fiscal year of 2013 has been set at $103 billion, reported local media Thursday.
The country’s economic commissions approved the nation’s budget, which is set at a 12% growth from the previous year’s budget of approximately $92 billion.
The budget will include a scope of $22 billion for social investment, the highest figure in the country’s history, and also states that $15 billion will go into defense and police; $13 billion will be plunged into education and social protection, while health will receive $6 billion.
Of the other main funds, $10 billion will go into labor while transport will receive approximately $3 billion.
Colombia’s Finance Minister Mauricio Cardenas Santamaria said that the budget fits the country’s fiscal reality, reported Caracol Radio.