Story perspectives

Colombia Congress Approves 2027 Budget, Deficit Hits 9.4%

By Drooid · Sep 15, 2026, 3:03 AM UTC · How we work

Summary

Story summary

Colombia's Congress approved the 2027 budget of 634.9 trillion pesos ($206.6 billion).
The budget projects a record 9.4% of GDP fiscal deficit, to be financed mainly by higher public debt.
President Abelardo De La Espriella will submit a “Rescue Law” tax reform to cut spending and lower deficit to 7.2% of GDP.
Finance Minister Miguel Gomez said the budget is unaffordable but necessary for the economy.

1 of 1

Story summary

Colombia's Congress approved the 2027 budget of 634.9 trillion pesos ($206.6 billion).
The budget projects a record 9.4% of GDP fiscal deficit, to be financed mainly by higher public debt.
President Abelardo De La Espriella will submit a “Rescue Law” tax reform to cut spending and lower deficit to 7.2% of GDP.
Finance Minister Miguel Gomez said the budget is unaffordable but necessary for the economy.