00:00Each year the government presents a document that defines how much money the country will spend and on what.
00:05is going to spend.
00:05It's called the General Budget of the Nation.
00:08And the 2027 one has just been eradicated in Congress for the second time.
00:12The first version was eradicated by Gustavo Petro's government on July 29th.
00:16But Congress returned the project on August 11 for the new administration of Abelardo de las Priella
00:21make adjustments.
00:22How are the accounts looking for next year?
00:24The amount.
00:25The budget for 2027 amounts to 634.9 trillion pesos.
00:30To put it in perspective, this year's budget is 555.8 trillion.
00:35That is, the 2027 figure grows by 14.2%.
00:39It's a large budget and it comes at a complex fiscal time.
00:42How is it distributed?
00:43The budget has three main sections.
00:46The first is operation, 392.5 trillion pesos.
00:50It is the money to pay the salaries of public employees, maintain state institutions, and finance services.
00:56that the government lends to citizens.
00:58It grows 7.3% compared to the current budget.
01:01The second is debt service, 155 trillion pesos.
01:05That's where the payment of the loans that the country has acquired over the years goes, including interest.
01:10This sector grows 54.7% compared to 2026.
01:14It's the biggest increase.
01:16The third is investment, 86.9 trillion pesos.
01:20It is the money allocated to works, social programs and projects that seek to promote the development of the country.
01:25This is the only category that falls, dropping 2.8% compared to the previous year and also declining as a percentage
01:31of GDP.
01:32In simple terms, the submitted budget indicates that the country will spend more on maintaining its operations and paying off debts.
01:39and even less in investing.
01:40The context.
01:41This budget comes at a complicated fiscal time.
01:44The fiscal deficit, which is the difference between state revenues and expenditures, would close 2026 at 7.2
01:50% of GDP.
01:51This is the highest figure in recent history, with the exception of the pandemic.
01:56Added to that is the earthquake of August 10, which left estimated losses of 30 trillion pesos and
02:01which puts even more pressure on public finances.
02:03According to analysts, the State will have to assume approximately 60% of the cost of reconstruction.
02:09Coming?
02:10The government has already announced that it will present a tax law aimed at reducing spending and adjusting the finances of the
02:15State.
02:15The budget is left in the hands of Congress.
02:17Colombia will have to balance its accounts in a year that combines a fiscal crisis, an earthquake emergency, and the
02:23pressures brought about by the El Niño phenomenon.
02:31Thanks for watching the video.
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