Colombia Faces Budget Spending Delays Amid Failed Tax Reform

Colombia is considering delaying parts of its 2025 budget spending amidst a failed tax reform that lacked congressional support. Finance Minister Diego Guevara has indicated that the government seeks to raise funds through tax amnesties. Social spending will remain unaffected, as the plan undergoes revision.

Colombia is facing potential delays in its 2025 budget spending, Finance Minister Diego Guevara revealed to local radio. The government is evaluating which areas to delay, ensuring social spending remains untouched.

The budget re-evaluation follows the failure of a proposed tax reform, which aimed to generate 12 trillion pesos, or $2.9 billion, but lacked congressional support.

As an alternative, Guevara suggests raising approximately 5 trillion pesos, or $1.2 billion, through tax amnesties in collaboration with some lawmakers to encourage payments.