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Finance Ministry Proposes 11% Budget Increase for 2023

COLOMBIA
  • Proposes 391.4t peso ($91b) budget for 2023, up 11.1% from 2022, ministry says in statement sent by email. This figure includes 78t pesos to service the debt, and 19.1t to cover the deficit in the so-called Fund to Stabilize Fuel Prices.
    • Bloomberg note that the current govt leaves office on Aug. 7 and the budget can be adjusted by the incoming administration.

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