The Ministry of Finance revealed the details of the budget cut of 20 billion pesos that will be executed in order to comply with the fiscal rule, due to the cash problems faced by the National Government.
According to the criteria of
This is a preventive measure that was taken to ensure that Government expenditures are in line with the actual availability of income, since There is a possibility that at the end of the year the tax collection will be lower than expected.
67 percent of this budget cut falls on operating expenses (13.4 billion pesos) and the remaining 33 percent on the investment budget (6.4 billion pesos).
In investment, items aimed at programs that are viable to execute in the remainder of the government period, in such a way that this will not affect the fulfillment of the strategic goals of the government program.
In that sense, this budget postponement It does not affect previously contracted investment projects that are in the execution phase. It also has no effects on the Education, Health or Defense sectors.
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The ministries with the biggest cuts
The Ministry of Finance is the one that will have the largest budget cut, with 9.94 billion pesos. Of this total, 8.5 billion pesos correspond to operating expenses and 1.4 billion pesos to investment.
They stand out, for example, the cut of 160,047 million pesos to the Fuel Price Stabilization Fund (Fpec) and the 1,315 million pesos that went to the improvement and reinforcement of the headquarters of the Ministry of Finance in Bogotá.
In addition, 4,476 million pesos were cut from the budget for strengthening the management and direction of the finance sector, while To support investment projects at the national level there will no longer be 1.37 trillion pesos.
With 2.06 billion pesos, the second largest cut was made by the Ministry of Labor led by Gloria Inés Ramírez. 99.9 percent of these resources correspond to operations and were mainly for the payment of pensions.
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The snip at ANI and Dian
The budget cut in the National Infrastructure Agency (ANI) will be 1.16 billion pesos, and everything corresponds to investment. 99.8 percent of these resources were for primary road network infrastructure.
Meanwhile, to strengthen the management and direction of the transportation sector, 2,207 million pesos will no longer be available due to the budget cut announced by the Ministry of Finance.
Another entity that will have a large budget adjustment will be the National Tax and Customs Directorate (Dian), with 1.06 billion pesos. 100 percent of these resources were going to be allocated for operating expenses.
Specifically, This money had initially been budgeted for the hiring of permanent staff, that is, to cover salaries and other payroll contributions.
Photo:iStock
Cut in Citizen Income
Social Prosperity is the entity that manages all the subsidies provided by the National Government to the most vulnerable populations and, according to the information revealed by the Ministry of Finance, this year there will be a budget cut of 609,000 million pesos.
All these resources were for investment. Specifically, The affected programs are Jóvenes en Paz (379,739 million pesos) and Citizen Income (223,120 million pesos).
There will also be fewer resources for monetary transfers made to the population in situations of poverty or vulnerability (223,120 million pesos) and missionary programs that seek to strengthen the relationship between the State and citizens (6,140 million pesos).
Photo:Mayor of Barranquilla
Other cuts in subsidies
Another entity that will have a cut in its budget will be the Ministry of Mines and Energy, with 477,997 million pesos. Most of them (463,486 million pesos) were resources destined for investment.
It is highlighted that 285,282 million pesos were to pay fuel gas subsidies for strata 1 and 2; while 172,560 million pesos will come out of the pocket that was used to pay for electricity subsidies.
Additionally, The Ministry of Housing will no longer have 399,587 million pesos, of which, 398,985 million pesos correspond to resources that were for investment and only 602 million pesos were for operation.
