Colombia’s Congress approves 2027 budget amid fiscal strain

Colombia’s Congress approved a 2027 government budget totaling 634.9 trillion pesos, Reuters reported on September 14.

Reuters reported that the plan is built around a projected fiscal deficit of 9.4% of GDP and increased borrowing, with additional funding needs following the August earthquake.

The government said it planned to propose a separate fiscal package aimed at reducing spending pressures and narrowing the deficit. The deficit figure is a projection rather than a completed-year result.