2024-10-07 18:49:54
At the end of the third quarter of 2024, the Ministry of Finance and Public Credit reported that 65.9% of this year’s General Budget of the Nation (PGN) has been committed, with committed resources amounting to $331.9 billion of the $503.5 billion allocated for the current term.
Among the commitments made, it stands out that $62 billion has been allocated to service the public debtwhich represents 65.6% of the total programmed for this concept in the year. In total, the government has fulfilled 99.4% of the obligations acquired, paying $282.6 billion until September.
The Ministry indicated that, without taking into account debt service, $269.2 billion were committed, which represents an increase of 11.8% compared to the figure committed at the end of September 2023, when it was $240.8 billion. Payments allocated to items other than debt amounted to $220.5 billion, covering 99.5% of the obligations in this area, reflecting efficient management of cash flows.
Sectors with greater budget execution
Of the 31 sectors analyzed by the Ministry, 17 reported an execution higher than the monthly average of 5.9%. The Education and Health sectors were those with the highest levels of execution, with 71.2% and 68.8% respectively.
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Regarding operating expenses, execution reached 60.3%, a figure that is 3.6 percentage points lower than the historical average of 63.9%. However, investment items showed positive behavior, with 69% of the annual total allocated already committed, equivalent to $100 billion.
Among the sectors with the highest investment execution, Equality and Equity stand out with 57.7%, Science, Technology and Innovation with 55%, and Education with 54.2%. Other sectors such as Labor, Mines and Energy, and the Attorney General’s Office also registered significant progress in the execution of their investment resources.
Balance sheet and projections
The report concludes that, so far, the total delay in budget execution amounts to $35.8 billion, which is equivalent to 2.1% of the Gross Domestic Product (GDP). Of this total, $26 billion corresponds to outstanding obligations, divided into $16.2 billion for operating expenses, $152 billion for debt service and $9.6 billion for investment.
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