Colombian Congress Rejects 2025 Budget amid Funding Concerns

Colombia's Congress has rejected the government's proposed 2025 budget, sparking a heated debate over its $126 billion value. Despite the rejection, the government may enforce the budget by decree. Finance Minister Ricardo Bonilla and President Gustavo Petro argue that the budget is essential, but lawmakers question its feasibility.

Colombia's Congress rejected the proposed 2025 budget, valued at $126 billion, in a heated debate on Tuesday. Despite this, the government plans to push the budget through by decree.

Finance Minister Ricardo Bonilla insists on maintaining the proposed 523 trillion peso amount, even as lawmakers raise concerns about the budget's viability and funding sources, including measures to tackle tax evasion.

President Gustavo Petro has stated that the government would approve the budget by decree if necessary, a move not seen in over two decades. Adjustments to comply with fiscal rules are also needed, according to an independent oversight committee.

(With inputs from agencies.)