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Colombia fiscal deficit reached 6% of GDP in first 9 months of 2020

RIO DE JANEIRO, BRAZIL - Colombia’s central government deficit was 6% of gross domestic product (GDP) in the first nine months of 2020, more than five times the figure recorded in the same period of 2019, as spending increased due to the coronavirus pandemic, a Finance Ministry document showed on Wednesday, February 10th. From January to September 2019, the deficit was 1.2% of GDP.

Latin America’s fourth-largest economy saw a 20.7% increase in spending and a reduction of 13.3% in income during the first nine months of last year.

“The reduction in tax revenue, as . . .

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