Colombian Congress approves budget allocations, cuts funding to peace deal
SPY•Colombian lawmakers approved a 634.9 trillion-peso budget for next year, projecting a fiscal deficit of 9.4% of GDP and allocating 141 trillion pesos for debt repayment. The budget cuts funding for the Special Jurisdiction for Peace by 181 billion pesos, or 23%, and reassigns the money to the defense ministry.
1. Budget approved
Congress approved spending distributions for next year's 634.9 trillion-peso budget, up from 555.8 trillion pesos this year. It projects a 2027 fiscal deficit of 9.4% of GDP and allocates 141 trillion pesos for debt repayment, compared with about 30 billion dollars allocated in 2026. Lawmakers passed the bill ahead of a Tuesday-night deadline.
2. Peace funding cut
The finance ministry said the budget cuts 181 billion pesos from the Special Jurisdiction for Peace, a 23% reduction, and reassigns that money to the defense ministry. Lawmakers said funding for the Search Unit for Disappeared People had also been cut, but final figures were not available. The two entities and advocates said cuts would limit investigations and trials, as well as exhumations and identifications of the disappeared.
