INSUBCONTINENT EXCLUSIVE:
That is 11 trillion pesos ($2.73 billion) more than this year, according to official Ministry of Finance figures.The government will bypass
This shift reflects a growing focus on keeping public operations running rather than investing in long-term growth.Almost two-thirds of the
alone will rise to 65.1 trillion pesos ($16.16 billion), an increase of three trillion pesos ($745 million) from the prior year.Social
transfers and pensions now absorb nearly half the national budget
Pension spending will reach 84.7 trillion pesos ($21.04 billion), nearly matching the cost of servicing national debt.Debt Outpaces Growth
(Photo Internet reproduction)Debt payments remain among the most expensive items
In 2026, the government expects to spend 99.3 trillion pesos ($24.66 billion) on debt service.About 61.1 trillion pesos will go to domestic
debt, and 38.2 trillion to external debt
Most of these payments cover interest rather than reducing principal
This means nearly one out of every five pesos will go toward past obligations, not present services.At the same time, national tax revenue
continues to underperform
gap, the Ministry of Finance has proposed a new tax reform intended to raise an additional 19 trillion pesos ($4.76 billion)
Debt levels have climbed above 60% of GDP, and interest costs are rising
admitted that without added revenue, spending pressure could drive debt closer to 70% of GDP before 2030
This proposed 2026 budget reflects a deeper problem.Spending keeps rising, but income does not
Colombia is depending on borrowed money to pay for essential programs while sacrificing long-term investment to cover short-term
obligations.Unless tax revenues improve significantly or structural reforms succeed, the country will face fewer options, tighter credit,
and growing financial risk.ItemValue in COP (trillion)Value in USD (billion)Total Spending534.7132.7Year-over-Year Increase112.73Functioning
Costs353.487.76Personnel Costs65.116.16Social Programs & Pensions~265.5 + 84.7~65.8 + 21.04Pension Payouts84.721.04Debt Service99.324.66Tax
