Economic news

Congressional committees reject Colombia government’s 2025 budget proposal

2024.09.11 17:36

BOGOTA (Reuters) – Economic committees from both houses of Colombia’s Congress threw out the government’s proposed 2025 budget on Wednesday, rejecting the bill’s proposed value and arguing the Andean country will not be able to raise the proposed sum amid lower-than-projected tax collection.

At the end of July, Colombia’s finance ministry presented a proposed budget to Congress for next year worth 523 trillion pesos ($122 billion).

The budget was rejected even after the finance ministry on Tuesday presented a new fiscal reform proposal to lawmakers to raise some additional 12 trillion pesos ($2.8 billion), which the government says would finance the budget.

But the majority of lawmakers sitting on economic commissions in both the Senate and the lower house said government efforts to raise more funds, including plans to tackle evasion and avoidance, are not realistic.

© Reuters. FILE PHOTO: Members of Colombia's congress attend the opening of the new session in Bogota, Colombia July 20, 2024. REUTERS/Nathalia Angarita/File Photo

Colombian President Gustavo Petro on Tuesday said he would set the budget by decree if Congress rejected it.

($1 = 4,285.61 Colombian pesos)



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 96,392.83 1.17%
ethereum
Ethereum (ETH) $ 3,330.74 2.24%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 248.92 2.26%
bnb
BNB (BNB) $ 652.06 0.10%
xrp
XRP (XRP) $ 1.38 5.50%
dogecoin
Dogecoin (DOGE) $ 0.4188 0.65%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.986545 7.01%
staked-ether
Lido Staked Ether (STETH) $ 3,329.60 2.10%
tron
TRON (TRX) $ 0.205174 3.33%
avalanche-2
Avalanche (AVAX) $ 40.25 3.65%
stellar
Stellar (XLM) $ 0.529306 6.43%
the-open-network
Toncoin (TON) $ 6.06 3.37%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 3.14%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,933.05 2.60%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,109.75 1.33%
polkadot
Polkadot (DOT) $ 8.51 0.06%
chainlink
Chainlink (LINK) $ 17.04 2.45%
bitcoin-cash
Bitcoin Cash (BCH) $ 503.32 0.28%
weth
WETH (WETH) $ 3,327.52 2.45%
sui
Sui (SUI) $ 3.36 1.57%
pepe
Pepe (PEPE) $ 0.00002 3.07%
near
NEAR Protocol (NEAR) $ 6.53 6.63%
leo-token
LEO Token (LEO) $ 8.45 2.07%
litecoin
Litecoin (LTC) $ 95.75 2.79%
aptos
Aptos (APT) $ 12.01 5.66%
uniswap
Uniswap (UNI) $ 10.46 3.63%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,505.39 2.24%
hedera-hashgraph
Hedera (HBAR) $ 0.143223 7.59%
usds
USDS (USDS) $ 1.00 0.20%
internet-computer
Internet Computer (ICP) $ 10.95 3.33%
crypto-com-chain
Cronos (CRO) $ 0.187566 5.04%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.543625 4.93%
ethereum-classic
Ethereum Classic (ETC) $ 27.88 6.30%
render-token
Render (RENDER) $ 7.59 1.41%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.46 4.19%
kaspa
Kaspa (KAS) $ 0.150704 1.57%
bittensor
Bittensor (TAO) $ 505.59 0.98%
bonk
Bonk (BONK) $ 0.000048 1.53%
whitebit
WhiteBIT Coin (WBT) $ 24.24 1.96%
dai
Dai (DAI) $ 1.00 0.00%
vechain
VeChain (VET) $ 0.04268 1.82%
celestia
Celestia (TIA) $ 7.97 12.75%
arbitrum
Arbitrum (ARB) $ 0.827335 3.53%
mantra-dao
MANTRA (OM) $ 3.63 0.29%
filecoin
Filecoin (FIL) $ 5.46 0.28%
cosmos
Cosmos Hub (ATOM) $ 8.33 1.88%
okb
OKB (OKB) $ 53.40 3.67%