According to Corficolombiana, until June, approximately 36.6% of the budget was executed (not counting the debt). This is 2.4% below the average of the last 23 years, which was 39%.

If the execution of the General Budget of the Nation (PGN) for the first half of 2024 were evaluated in Colombia, it would be a poor grade. According to a report by Corficolombiana Economic Research, until June, approximately 36.6% of the budget was executed (not counting the debt). This is 2.4% below the average of the last 23 years, which was 39%. That is, we are spending less than we used to.

And why is execution important? If executed correctly, responsible and transparent use can be ensured, financing critical areas such as education, health, security and infrastructure. “Good” budget execution creates jobs and improves the quality of life, avoiding waste and excessive debt to keep fiscal accounts in order.

According to Corficolombiana, “the low execution indicates poor implementation in strategic programs and sectors of the government plan, especially in investment.” This was evidenced in the budget cut announced by the Petro Government ($20 billion) due to low tax collection. Of course, experts expect additional cuts of $10.8 billion due to persistent underexecution in the second semester.