LatinNews Daily - 15 September 2026

*Colombia’s congress has approved in general terms the 2027 budget submitted by President Abelardo de la Espriella’s government. Economic commissions in both chambers voted yesterday to approve Col$634.9tn (US$203.9bn) in spending, although there will be further debates on how this amount is to be divided between regions and sectors. This represents an increase of Col$59.3tn compared to the 2026 budget approved under De la Espriella’s left-wing predecessor, Gustavo Petro (2022-2026). In a statement yesterday, the finance ministry said that the 2027 budget accounts for spending obligations which were not detailed in the 2026 budget, including around Col$6.5tn in pension costs, Col$2tn on healthcare, Col$4.5tn for public sector salaries, Col$9.6tn to cover a deficit in the fuel price stabilisation fund (FEPC), and Col$700bn for public universities. Petro’s Pacto Histórico coalition yesterday tabled an unsuccessful motion in the lower house’s economic commission seeking to reduce the 2027 budget to Col$597tn, pointing out that De la Espriella campaigned on a promise to deliver spending cuts and fiscal responsibility.

End of preview - This article contains approximately 180 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial