Falling oil prices threaten Colombian economy
With oil accounting for more than 67% of total Colombian exports in 2013, falling market prices...
Tag: budget
Governors under pressure to provide help to conflict victims
Colombia’s collective of governors expressed their concern that there are not enough resources to meet the needs of the Victims and Land Restitution Law imposed last year. The Victims and Land Restitution law, implemented...
Colombia’s 2012 budget gets presidential approval
The budget of $87 billion for the 2012 fiscal year has received presidential approval to become a law. A sum of $2 billion is destined to meet the financial requirements of the programs of the Victims’ Law, Attention for...
Colombia swings to consolidated fiscal surplus in 1H
The Colombian government posted a consolidated fiscal surplus in the first half of the year equivalent to 2.6% of gross domestic product, the Finance Ministry said Thursday in a statement. In the same period last year, the...
Colombian Senate approves 2012 budget
Colombia’s Senate approved the nation’s budget at $86.89 billion for the 2012 fiscal year in a second debate. Finance Minister Juan Carlos Echeverry explained that initially the budget had a value of $97.24 billion...
Colombian budget for 2012 approved
Colombia’s congress approved the national budget for 2012 at $91.2 billion (COP 165.3 trillion) despite protests from a senator that there had not been sufficient debate. The Finance Ministry said the budget was to reduce...
Pension rulings could cost Colombia $21 billion: Finance Ministry
A report released by the Colombian Finance Ministry argues that rulings by Colombia’s judiciary could cost the country as much as $21 billion, newspaper El Espectador reported Wednesday. The report claimed that rulings...
Government to increase budget for higher education
The minister of education announced Wednesday that the government will nearly double the budget for higher education. In a meeting with the Colombian Association of Universities (ASCUN) and the State University System (SUE),...
Military Hospital fails financial audit
The Colombian Military Hospital was reprimanded for financial irregularities that surfaced in an annual audit, reported news site CM& Thursday. The Colombian Comptroller’s Office found 59 irregularities in an audit of the...
2012 govt budget to include $1B for Victims Law: Finance minister
Colombia’s finance minister said Wednesday that the 2012 government budget will include around $1.1 billion (COP 2 trillion) towards implementing the new Victims Law, Caracol Radio reported. According to Finance Minister...
Finance minister promises funding for war victims
Colombia’s finance minister said $1.2 billion has already been set aside as part of this year’s budget to begin funding a project recently approved by Congress to compensate victims of the country’s...
Unfulfilled contracts spark proceedings against Bogota IDU directors
The Bogota Comptroller’s Office has opened fiscal responsibility proceedings against the former and current directors of the city’s Urban Development Institute (IDU) for failure to comply with public infrastructure...
