Colombia is considering delaying spending for the 2025 budget, with Finance Minister Guevara stating the specifics will be decided next week. This is due to a prior failed tax reform that impacted spending plans.
Colombia is contemplating a postponement of spending for the 2025 budget, as stated by Finance Minister Diego Guevara during a local radio interview. The specific amount for the delay will be determined in the forthcoming week.
Minister Guevara emphasized, “We are evaluating delaying some additional areas, that’s true, with a more detailed revision and without affecting social spending but rather grounding some goals a bit,” indicating a focus on responsible fiscal management.
This decision emerges in response to the government’s inability to secure congressional approval for a previous tax reform, which necessitated a cut in planned expenditures for 2025. In light of this situation, another similar reform has been proposed this year.
In summary, Colombia’s government is assessing the possibility of delaying 2025 budget expenditures, with further details to be announced soon. This decision is a result of prior fiscal constraints linked to an unsuccessful tax reform. The administration aims to ensure that social spending remains unaffected while revising financial goals responsibly.
Original Source: www.tradingview.com
