Petro government executed 88% of 2023 budget, similar to execution in 2022

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Petro government executed 88% of 2023 budget, similar to execution in 2022

According to a report by the Fiscal Observatory of Javeriana University, The nation’s general budget for 2023, PGN, was $423 billion, of which 88% was executed including debt service,

This amount was distributed $261 billion for operating expenses, $83 billion for investments and $79 billion for debt service,

Without counting public debt, performance was 86% A percentage that has only been seen in 2002, 2020 and 2022.

The areas with the highest percentage of execution were Education, 98%; Prosecutor’s Office, 95%; Defense and police, 94%; Health and Social Security, 93%, and Foreign Relations, 91%.

On the other hand, the areas with the lowest execution percentage were presidency, 16%; planning, 45%; Environment and Sustainable Development, 49%; statistical information, 54%, and sports and entertainment, 59%,

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The report highlights that The sectors with the lowest percentage of performance are found in portfolios considered strategic to the government As is the case with environment and sustainable development.

https://twitter.com/CGR_Colombia/status/1754495883905847660?ref_src=twsrc%5Etfw

With respect to investment grade, of Of the $83.3 billion allocated for investment last year, the government executed only $59.4 billion, representing 71%, This percentage is 6 percentage points lower than the historical average of 77%.

The Observatory warned that, although the fiscal rule was met in 2023, “Fiscal situation looks fragile for 2024“, and although a $502.6 billion budget has already been approved for this year, doubts about the income threaten fiscal rule violations.

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Similarly, he suggested whether it would be necessary Start a debate on whether the Treasury should punish these portfolios and cut expenses to comply with the fiscal rule with greater margins,

https://twitter.com/MinHacienda/status/1753127247597260929?ref_src=twsrc%5Etfw

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