Colombian Congress approves $201.1 billion budget for 2027
SPY•Colombian lawmakers approved a 634.9 trillion-peso ($201.14 billion) budget for 2027, projecting a fiscal deficit of 9.4% of GDP. The budget increases defense funding and cuts funding for bodies established under a 2016 peace deal.
1. Budget approved
Colombian lawmakers approved spending allocations for the 2027 budget, which is up from 555.8 trillion pesos this year. It includes 144 trillion pesos for debt repayment, 93 trillion pesos for education, 81.6 trillion pesos for health and 74.9 trillion pesos for defense.
2. Peace-related cuts
The budget reduces funding for the Special Jurisdiction for Peace and operational funding for the Search Unit for Disappeared People. The two bodies and advocates say the cuts will limit investigations and trials into human rights violations, as well as efforts to exhume and identify people who disappeared during the conflict.
