The Ministry of Finance published the bulletin of execution for the General Budget of the Nation (PGN) accumulated to the month of March, in which the entity evidenced as for the first quarter of the year, the total resources of the budget that were committed reached 31%.
(The new investment axes between Colombia and Turkey).
Although the amount of the PGN approved by Law 2159 of 2021 amounted to $350.4 billion, it was modified during the first quarter of the year by a net value of $1.9 billion, which explains why general budget appropriations closed March at $352.3 billion.
According to the Treasury in the report, this “in order to give continuity to public health programs aimed at fighting the pandemic, ensure the normal development of electoral processes abroad, comply with mandates of the Constitutional Court related to payment of pension liabilities and supply food stays for the soldiers and students of the Military Units”.
(In January, 18.6% of PGN resources were allocated).
Regarding the accumulated budget execution at the end of March, 31.0% of the resources were committed, that is, $109.2 billion; 17.2% ($60.6 billion) was obligated and 16.9% ($59.5 billion) was paid.
Within the composition of the General Budget of the Nation, appropriations refer to the maximum spending approvals that receive the green light from Congress, and that must be executed, or committed, during the respective fiscal term. The allocations are the acquired commitments that must be developed in the fiscal periodwhile the obligations are the amount owed and the payments are the disbursements corresponding to the resources contracted with the budget.
The portfolio clarified that, in addition to these items, during this year the budget lag constituted at the end of the 2021 period corresponding to $24.2 billion is also being executed.
LAURA LUCIA BECERRA ELEJALDE
BRIEFCASE
