economy and politics

Government says that the entire planned budget addition is not needed

Government says that the entire planned budget addition is not needed

Finance Minister Ricardo Bonilla said that with the approval of the budget addition to be made in June, the needs went from $23 billion to $14.7 billion.

He assured that Ecopetrol’s dividends for the year corresponding to 2022 are within the Budget approved this year and the payment of Fepec for $18 billion is already included in the expense, so it is not necessary to cross accounts.

(Read: The troubles and successes in the budget addition).

He assured that with Ecopetrol a working table will be held with the Ministry of Finance to examine the issues and make the figures transparent and show the country what there is in terms of figures.

For Bonila, $21 billion in dividend income from Ecopetrol and $18 billion in expenses by Fepec are budgeted (Fund for Stabilization of Fuel Prices).

(Read: Some electrical projects would be unfeasible due to high costs).

Regarding the questioning of the $26 billion owed to said fund, the minister said that this will be studied at the technical table and it will depend on Ecopetrol to approve an extraordinary dividend.

He warned that the $23 billion budget addition is no longer needed at that magnitude and will instead be reduced to $14.7 billion, which is against certain income and the effective possibility that the national entities execute in the second half of the year.

The budget addition will be approved in June and the resources will begin to be executed in July. “Removing the guarantee law, the issue is what is really going to be executed and that is why it was lowered to $14.7 billionBonilla said.


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