Will the Government comply with the 2025 Budget?: this is what the manager of Banrep says

He Draft General Budget of the Nation (PGN) for the year 2025 is from $523 billionrepresenting an annual growth of 3.9%. Of this amount, $327.9 billion is allocated to operations, $112.6 billion to debt service and $82.5 billion to investment.

In terms of the total amount of expenditure, there is a difference of $12 billion, attributable to new income that would be obtained from the approval, by Congress, of a Financing Bill, which the government will present in the coming months.

(Besides: The possible date on which toll price increases will begin).

Within current income, tax revenues administered by the national government are estimated at $304.5 billion, with a nominal increase of 17.8% compared to the tax revenues expected in the Medium-Term Fiscal Framework for 2024 ($258.6 billion).

Faced with this, the general manager of the Bank of the Republic, Leonardo Villarassured that the project was developed under the guidelines of the Colombian legal framework and the Constitution.

“The project programming takes into account the spending priorities defined in the National Development Plan and the goals of the Medium-Term Fiscal Framework, which ensure strict compliance with the fiscal rule on the structural net primary balance in the coming years.“, he assured.

(Besides: How many people have been able to declare their income despite the problems that the Dian has had?).

And he added: “It should be noted that the inclusion of several expenditure items in the project is unavoidable, since they respond to constitutional and legal mandates. Among these items, the General Participation System (SGP), pensions, commitments for future periods and income with specific destination stand out.“.

General Budget of the Nation

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The official highlighted that the new financial plan that accompanies the general budget of the nation for the year 2025 “raises“The estimate of the resources collected by management at 1.6% of GDP ($29 billion), not counting the resources expected from the approval of the financing bill.

(You may be interested in: There is already a date for when the Government will submit the financing bill).

“Additionally, deviations in macroeconomic assumptions, such as a lower GDP growth rate or higher interest rates on government debt, could lead to a less favorable fiscal scenario.“, he added.

PORTFOLIO