Colombia government proposes steep spending cut as fiscal woes deepen
5 Articles
5 Articles
Colombia government proposes steep spending cut as fiscal woes deepen
By Carlos Vargas BOGOTA, Oct 29 (Reuters) - Colombia's government on Thursday submitted to Congress a sweeping fiscal reform bill aimed at cutting public spending by about 15%, raising revenue through tax measures and averting a deeper deterioration ...
The initiative seeks, according to the text, to reduce public spending, stabilize state finances and generate growth.
The bill provides for extraordinary powers for the president to reorganize public entities, austerity measures in state recruitment and changes in social security funding, with the aim of stabilizing public finances.
The Tax Rescue Act tightens penalties against those who evade taxes or engage in smuggling activities.
Just a couple of hours after the Rescue Law was known, it was confirmed that Vice President José Manuel Restrepo, and the ministers, will accompany the establishment of this initiative
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
