Colombia Missed 2024 Fiscal Deficit Limit by $5 Billion
- Fiscal committee, CARF, warns about Colombia’s fiscal outlook
- Colombia needs adjustment of $13 billion to meet 2025 targets
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Colombia breached its fiscal deficit limit last year while spending cuts planned for 2025 are inadequate, according to the committee that supervises the national accounts.
Preliminary data show the deficit exceeded the target established in the Medium-Term Fiscal Plan by around 21 trillion pesos ($5 billion), according to the autonomous committee known as CARF, which oversees the nation’s fiscal rule, or balanced-budget act.