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Finance Minister Suggests Govt. Mulling Bill to Make Fiscal Rule More Flexible

COLOMBIA
  • According to a Bloomberg report, Colombia is considering a bill to make the current fiscal rule more flexible as the slow economic growth makes it difficult for the government to meet its fiscal targets.
  • The bill would be part of the economic package of bills that seek to promote economic growth, Finance Minister Ricardo Bonilla told reporters in Bogota.
  • “It is giving flexibility to the current fiscal rule, as one thing is to have a fiscal rule for a country that grows at 3%-4%, or 10%, and another to have a fiscal rule that grew only 0.6%”.
  • Other economic measures that would be sent to congress include lowering the nominal corporate tax and providing tax incentives for renewable energies, as well as forcing the financial sector to provide cheap loans for housing, clean energies, or infrastructure. (BBG)

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