2024-07-08 20:09:41
The Ministry of Finance and Public Credit announced that by the end of the first half of 2024, 47.4% of the current appropriations of the General Budget of the Nation (PGN), amounting to $503.2 billion for this year, have been committed.
According to the Ministry, following the postponement of $20 billion in spending, established in Decree 766 of June 20, Commitments reached 50.7% and obligations 38.5% in the period between January and JuneOf the total commitment, obligations amounting to $191 billion were contracted, of which $185.5 billion (97%) have already been paid.
The debt service amounted to $39 billion, representing 41.3% of the total scheduled for this purpose throughout the year. In addition, non-debt contractual commitments amounting to $197.1 billion were acquired, which represents an increase of 19.4% compared to the amount committed in June 2023.
“Thanks to contractual management, goods and services worth $149.5 billion were received, equivalent to 36.6% of the authorized debt-free spending for the year. Payments other than public debt amounted to $146.5 billion, representing 98% of obligations of this type and 35.8% of current appropriation,” the Ministry’s report states.
You may be interested in: Comprehensive Reform of Public Services in Colombia: A Step Towards Equity and Efficiency?
Regarding primary expenditure, obligations for $149.5 billion were recorded in June, which represents 36.6% of the total appropriation for the year.This figure is 1.4% lower than that recorded in June 2023 and 1.6% lower than the average for the 2000-2023 period (38.2%). Operating expenditure was 0.7% lower than its historical average, with 41.3% of the total appropriation ($308.8 billion) committed.
The report also highlights that investment contracting continued to increase, with 53.9% of the total annual allocated ($99 trillion) committed, representing $11.6 trillion (27.5%) more than what was committed in 2023. The delivery of goods and services associated with investment reached $22 trillion of the scheduled annual value, 6.9% more than in June 2023.
By sector, those with the highest investment execution in terms of delivery of goods and services were:
Mines and Energy: 41,1%
Education: 39,4%
Equality and Equity: 32,9%
Science, Technology and Innovation: 28,5%
Health and Social Protection: 28,4%
The total deficit of $35.9 trillion (2.1% of GDP) included obligations of $24.4 trillion, of which $15.7 trillion were operating and $8.6 trillion were investment.
You can read: Colombian port areas handled more than 40 million tons of cargo in the first quarter of the year