Congress Approves Government’s 2027 Budget at US$201B
Colombia’s Congress approved the 2027 national budget in the early hours of Tuesday, October 20, totaling 634.9 trillion pesos (about US$201.1 billion), marking the new government’s first major legislative victory. The spending plan under President Abelardo de la Espriella increases available funding compared with the current budget and reflects a shift in priorities, with a […]
Colombia's Congress has formally approved the 2027 national budget proposed by President Abelardo de la Espriella's administration. The budget, valued at approximately US$201.1 billion, marks the new government's first significant legislative achievement. The spending plan prioritizes the Defense sector, allocating 74.9 trillion pesos (around US$23.8 billion) and increases funding for education and healthcare compared to the previous year.
However, it also includes cuts to institutions established to implement the 2016 peace agreement with the Revolutionary Armed Forces of Colombia (FARC), such as the Special Jurisdiction for Peace and the Search Unit for Persons Presumed Missing, sparking concerns over the potential impact on judicial investigations and missing persons' cases.
The legislation, approved by both the Senate (57 votes in favor, 2 against) and the House of Representatives (112 votes in favor, 1 against), aims to balance fiscal adjustment goals with public service needs while addressing Colombia’s debt servicing obligations.
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