With its sights set on overcoming cash constraints and guaranteeing the resources to carry out the social projects of the Petro government, the Ministry of Finance is gearing up to face the fiscal challenges of 2025, a year that Although it will not be marked by such a strong economic slowdown, it comes with several issues to urgently work on.
Adjusting budget accounts, lowering debt levels, complying with the fiscal rule and implementing an economic recovery plan as soon as possible are some of the fronts that require immediate attention; situation of which they are aware in the portfolio directed by Diego Guevara.
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Through several messages published on social networks, the Minister of Finance announced what will be the first objectives to be met by his work team, highlighting that it has not been easy for them due to the high levels of debt it has. the country and that limit the margin of action.
Given this, Guevara Castañeda maintained that at this time They must prioritize “macroeconomic responsibility” and increase efforts to keep up to date with the different creditors that the Nation has, as they have been trying to do since they presented the General Budget of the Nation for 2025.
Diego Guevara, new Minister of Finance
Private file
“What is macroeconomic responsibility? Pay our debts. And paying our debts has a counterpart in terms of social sacrifice. And you see that in the 2025 budget. In 2025 you see a debt service of $112 billion, while there is an investment of only $81 billion,” he explained.
In this sense, he added that “that was what we presented to Congress. Congress has to see that the budget presented by the Government is completely responsible. “It is a budget where the debt is much higher than the investment.”
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Take care of the fiscal front
Although they are aware that things are not easy and that investment efforts will have an impact on the economy, the Treasury portfolio made it clear that the fiscal front will be one of their priorities, both in compliance with the rule, as well as ensuring the resources that are needed during this period.
“I believe that the main challenge is the country’s fiscal front, that We have been clear about it and we hope that in macroeconomic terms it will be somewhat offset by the general scenario in which, for example, we aim for inflation below 5%, which will allow the interest rate to also be at least below the 6%,” he said.
Colombian pesos.
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In other indicators, the Minhacienda expects GDP growing above 2.5%, a stable exchange rate and balanced external accounts. I believe that the macroeconomic outlook is positive in 2025 and if this gives us the cushion and creativity to work on the fiscal front we will be able to move forward, it will require efforts that will always comply with fiscal sustainability,” said Minister Guevara.
For the Ministry of Finance, there are at least three positive aspects to highlight in the starting point for the 365 days that are already running, starting because economic growth did not slow down, the cost of living decreased and there is stability in the generation of employment, which in its concept speaks well of the way in which they have overcome the different challenges that the local economy has seen.
