00:00We have a big problem. We knew it was big, and now, after the government has presented its budget to the
00:08Congress, we know it's even bigger than we thought.
00:12What we don't know yet is how that announced 9% deficit will be financed.
00:18They gave us the magnitude of the problem, they announced a 2.2 point cut in GDP which we thought from
00:26FEDESARROYO, which is difficult to process.
00:30Let's see what the government comes up with because a very large part of public spending in Colombia is
00:36inflexible, and we still don't know what the government is thinking in terms of how this will play out in the coming days.
00:44three years, after 2027.
00:48The path of organizing public finances is going to be important because that's what the markets read.
00:54This is where Colombia and we will be able to show the world that we have fiscal discipline and a plan
01:00to organize and bring under control our public finances, which are not under control today.
01:06That will determine the price of the debt the State can obtain, the cost of the debt.
01:12which becomes extremely important because it's what will give the government room to maneuver
01:18in order to dedicate a larger portion of the revenue to investments in development, security, and infrastructure,
01:29in education, in health, in all other areas that need it.
01:34Thank you.
01:34Thank you.
