Colombia’s Fiscal Outlook Hinges on the Election

Colombia’s economy presents mixed signals: while the government highlights reduced inflation and steady growth, fiscal risks and institutional tensions persist. The suspension of the fiscal rule, rising public spending, and criticism of the Central Bank raise questions about economic sustainability ahead of the 2026 elections.

This report examines potential fiscal scenarios, the role of the Central Bank, and the challenges the next administration will face in an increasingly uncertain environment.

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National General Budget 2025-2026. Colombia’s Fiscal Outlook Hinges on the Election.