At the close of the General Assembly of Anif (Center for Economic Studies), President Gustavo Petro highlighted some of the achievements that he considers he has achieved in the nearly four months that he has been in office, this in response to the concerns of the different sectors especially financial a possible recession and how it will be addressed.
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“These months that have passed, the Government has tried to stabilize the country’s fiscal situation, three elements have been fundamental: the tax reform, the reduction of the deficit in the Fuel Price Stabilization Fund, a late bill, $6 have already been transferred, 5 trillion of the $39 trillion and with the rise of $200 it will decrease and the third is going from short-term to long-term debt, decreasing short-term requirements”, said the president.
In addition, he recognized that the country is working in the most optimal way to overcome the deficit in a scenario of deceleration.
“We had a deficit of almost 8% of GDP, we have almost never had it in contemporary years and it makes us look calmly at what is to come, which is already felt. On the negative side, there is undoubtedly a high probability of a world recession that will depend a lot on the international interest rate, on the war in Ukraine, on all those variables that do not depend on us”, he concluded.
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Finally, the president assured that the current crisis is not circumstantial as many have statedbut on the contrary it is structural.
“These are the times of a humanity that lives under the urgent need to change its economic system if it wants to survive. In this dichotomy between life and inertia, geopolitics and world discussions are moving”, he closed in his speech.
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