US EditionColombia Declares ‘Economic Emergency’ After Tax Rises Blocked
12 Articles
12 Articles
The president of Colombia, Gustavo Petro, along with the whole of his ministerial cabinet, signed on Monday Decree 1390, by which he declared the state of economic emergency in the country.The extraordinary measure contemplated in the Constitution enables the executive to issue decrees with force of law to face a crisis that, according to the government itself, can no longer be resolved with the ordinary mechanisms of the state.The decision occu…
The left-wing government comes to a state of emergency for the third time. It points out that the fiscal crisis is so serious that it requires action without going through Congress.
N Digital
Felix VictorinoGustavo Petro's president, along with his entire cabinet, signed on the night of Monday, December 22, Decree 1390, by which the economic emergency in Colombia is declared, a decision that occurs after the collapse of the most recent tax reform in Congress. The declaration will allow the Executive to issue decrees with force of law for a period of 30 days, with the objective of facing the fiscal deficit that the country is going through. Accordin…
The Government decreed the “economic emergency” for 30 days after Congress had sunk the tax reform project. The Government decreed the “economic emergency” for 30 days after Congress had sunk on December 9 the tax reform project with which the Executive intended to raise 16,3 billion pesos to complete the national budget of 2026. In Decree 1390 of 2025, the Government of President Gustavo Petro declared “the state of economic emergency throughou…
The Colombian government ordered the "economic emergency status" for 30 days after the Congress rejected a tax reform aimed at revenue of 16.3 billion euros (3.65 billion euros). The measure appears to be in response to the refusal by the Congress last day 09 of a tax reform project with which the Executive seeks to complete the State's budget for 2026. The Government of President Gustavo Pedro declared by decree No 1390/2025 "the state of emerg…
There are about 450,000 formal bars in Colombia that would suffer if they raised taxes on liquor. Up to 1.6 million jobs would be at risk with the measure
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