Ministry of Finance suggests to Congress to adjust the norm on the Budget

During his intervention in the Political Control debate on the scope of the General Budget of the Nation for 2023, held in the Fourth Committee of the Senate, The Minister of Finance, José Antonio Ocampo, suggested to the Congress members to modify the rule so that the incoming governments are in charge of carrying out the spending and investment plan and not the outgoing as currently occurs.

(Minhacienda invited congressmen to nurture the tax reform).

“There is a very peculiar characteristic that exists in Colombia and that is that the outgoing government presents the Budget for the first year of the incoming government. Suddenly you should reform that norm and say that in the first years of each government all the Budgets are made from August 7 to allow the incoming government to be the one that presents the PGN”, Ocampo said.

He added that currently the Treasury It meets this limitation because in the project there is a reduction in investment and cuts in operating expenses, among other aspects.

(The problems that the Colombian tax system has, according to Ocampo).

“We are very aware that there is a reduction in investment that affects almost all sectors,” Minister Ocampo warned in front of the Senators.

During the debate, officials from several state entities participated to talk about the operating and investment expenses that are proposed in the new Budget project.

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