2024-06-14 02:24:10
The Minister of Finance, Ricardo Bonilla, recalled that at the moment is the final day for the ministries to current their proposals for funds cuts, following the choice made within the Council of Ministers this week to cut back the assets of every by 5.6%. entity.
«The Council of Ministers authorized 48 hours to have this info, at the moment we closed it, at the moment it must be closed. The Nationwide Planning Division is consolidating the data,” Bonilla said.
The minister defined that the cuts will have an effect on each operation and funding, with a complete lower of $20 billion. Nevertheless, he confused that important funding won’t be penalized. “What all entities have to ascertain is, presently of the yr, what can’t be assured that can not be achieved after which set up the cuts and set up the place the priorities are,” he defined.
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Bonilla additionally confused that the Common Participation System won’t be affected nor will there be cuts within the working payroll.
Assembly with Moody’s
Minister Bonilla additionally referred to his latest assembly with the score company Moody’s, which maintains Colombia’s funding grade within the Baa2 class with a secure outlook. Nevertheless, Moody’s expressed concern in regards to the nation’s curiosity prices and the doable deterioration of Colombia’s credit score profile as a result of present macroeconomic context.
“We’re in a macroeconomic context that’s bringing us nearer to the downward state of affairs that might lead us to a change within the secure outlook that we presently have,” mentioned Renzo Merino, senior vp and principal analyst at Moody’s for Colombia, throughout a panel in Bogotá , as reported by Reuters.
Merino additionally indicated that they’ll look forward to information from the Medium Time period Fiscal Framework to precisely consider the federal government’s debt metrics.
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