Sunday, June 4, 2023

Colombia plans 185.5 trillion pesos in spending in 2013

(Reuters) – Colombia plans budgetary spending for next year of 185.5 trillion pesos ($103 billion), 12.2 percent higher than in 2012, a senior government source told Reuters on Thursday.

Latin America’s fourth-largest economy expects growth to stay steady in 2013 at 4.8 percent, the same level as the expansion target for this year as a cycle of rate hikes begins to cool the Andean nation’s gross domestic product.

The senior government source gave no details on the budget, which the finance minister is expected to present on Friday.

- Advertisement -

In April, Reuters obtained a copy of the draft bill that showed the government sought a budget worth 172.3 trillion pesos, but a lawmaker said in July that Colombia would seek spending of as much as 180 trillion pesos.

The government budgeted 165.3 trillion pesos of spending for this year.

A decade of heavy blows against drug-funded insurgents has improved security across the nation, making it easier for Colombians to find jobs, start businesses and create wealth.

That helped accelerate economic growth and attract record foreign investment to the Andean nation — more than $13 billion in foreign direct investment flowed into the economy last year, mostly into the oil and mining industries.

- Advertisement -

Colombia’s economy grew 5.9 percent last year.

The government is betting increased spending on security may help ward off a resurgence of attacks by guerrillas on the nation’s economic infrastructure.

$1=1,799.48 Colombian pesos

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn't look right, send us an email. The Q reviews and updates its content regularly to ensure it's accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

Related Articles

Colombia has one of the lowest minimum wages in Latin America

QCOLOMBIA - 2023 starts and with it many of the workers...

Colombia and Venezuela reopen border crossing after 7 years

QCOLOMBIA - Colombia and Venezuela on Monday, September 26, 2022, reopened...
- paying the bills -


- paying the bills -


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!