Colombia Approves 16% Budget Increase Amid Investor Concerns

Colombian lawmakers approved a 16% increase in government spending for 2027, totaling 635 trillion pesos ($204 billion). The budget aims to address previous omissions in areas such as healthcare, energy, and pensions. Finance Minister Miguel Gómez plans to impose spending cuts to narrow the fiscal deficit without tax increases, which would otherwise widen to over 9% of GDP. The plan includes 150 trillion pesos in domestic debt sales and 88 trillion pesos in overseas borrowing. Lawmakers will continue debating how the funds will be allocated.