Colombia is contemplating a new delay in 2025 budget spending, as confirmed by Finance Minister Diego Guevara. The specific amount will be determined next week, ensuring no adverse effects on social spending. This comes after a previous tax reform proposal did not secure congressional approval.
Colombian Finance Minister Diego Guevara announced on local radio that the government is contemplating a further delay in budget spending for the year 2025. He explained that the specific amount of the delay would be established in the following week. Guevara emphasized that the administration aims to avoid impacting social spending while recalibrating certain financial goals.
The need to scale back on spending results from the government’s prior tax reform not receiving congressional support. In response, the government is currently proposing an additional reform for this year to address the fiscal gap.
In summary, Colombia’s government is assessing a potential delay in 2025 budget spending to address financial constraints without compromising social expenditures. This follows the failure of previous tax reform efforts, prompting new proposals aimed at stabilizing the fiscal landscape.
Original Source: www.tradingview.com
