Colombia to enact 2027 budget by decree after congressional process fails

Bogota, October 21 - The Colombian government announced on Wednesday that it will implement its 2027 budget of 634.9 trillion pesos ($198.83 billion) through executive decree due to a procedural error in Congress preventing final approval of the legislation, raising concerns about the new administration's fiscal management and investor confidence.

Both the Senate and the lower house separately passed different versions of the budget bill earlier this week, but the conflicting amendments resulted in legal experts debating the validity of the approval process. Vice President Jose Manuel Restrepo stated that the government's initial proposal, combined with the approved amendments, will now become law.

The Senate endorsed the bill on Monday night, while the lower house approved it early Tuesday; however, a disputed article with differing wording in each chamber had not undergone the necessary reconciliation process. President Abelardo De La Espriella replaced Interior Minister Rodrigo Lara with Alejandro Ordoñez later on Wednesday.