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COLOMBIA: BanRep Economist Survey Expected

COLOMBIA
  • Following the rejection of the government’s 2025 budget proposal this week by Congress’ economic committees, Finance Minister Bonilla said yesterday that the government won’t cut the budget to cover the anticipated shortfall. By law, the budget should be approved by September 15 and JP Morgan believes that given this scenario, President Petro could sanction into law the text of the budget presented before Congress by decree. However, they note that this approach would likely undermine its legitimacy and bypass the adjustments from the legislative process.
  • On the data front, BanRep’s economist survey is expected today. This survey will include forecasts for the upcoming Sept 30 MPC meeting, when the central bank will consider whether to step up the easing pace following recent softer-than-expected CPI inflation data.
  • Next week, focus turns to July industrial production and retail sales data on Monday, followed by economic activity figures on Wednesday and latest trade data on Thursday.

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