US EditionThe Petro Government Wants to Raise $16 Billion with the New Tax Reform, Confirmed the Finance Minister
8 Articles
8 Articles
The administration of President Gustavo Petro intends to face a fiscal crisis and the increase of the debt of the Nation
President Gustavo Petro announced that the government will again submit a tax reform bill to Congress, following the Colombian Constitutional Court's decision to declare the economic emergency decree issued in December 2025 unconstitutional. Speaking from Quibdó during the commemoration of the National Day of Remembrance and Solidarity with Victims, the president warned that if the legislature does not approve the initiative, the executive branc…
The draft will be presented with a message of urgency to the Congress of the Republic.
The Minister of Finance, Germán Ávila, revealed this Friday that in the coming days he will present to the Congress of the Republic a new tax reform for 16 billion pesos, in compliance with the instruction of President Gustavo Petro following the decision of the Constitutional Court to declare unconstitutional the decree of economic emergency issued by the Government at the end of 2025. The amount announced by Ávila is less than the 16,3 billion…
The Finance Minister, Germán Ávila, confirmed that the text will be presented to Congress in the next few days, as he said in dialogue with Blu Radio. The figure is the same as the one that sought to collect the first tax – sunk by Congress last year – and that it was focused on financing the 2026 budget. “The financing law that we presented to adjust the budget of 2026 had an amount of 16 billion pesos, and we believe it is in this order that t…
Minister Germán Ávila complied with President Gustavo Petro's instruction after the collapse of the economic emergency decree.
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