Colombian Economic Committees Reject 2025 Budget Proposal

Colombia's Congress economic committees have rejected the government's proposed 2025 budget, amounting to 523 trillion pesos ($122 billion). The committees cite concerns over the country's ability to raise the proposed sum due to lower-than-expected tax collections.

Economic committees from both houses of Colombia's Congress have rejected the government's proposed 2025 budget, raising concerns over the feasibility of the expected tax collections.

The proposal, presented by Colombia's finance ministry at the end of July, was valued at 523 trillion pesos ($122 billion).

This rejection highlights the ongoing fiscal challenges faced by the Andean nation.

(With inputs from agencies.)