Colombia's Finance Minister Germán Ávila defended the Economic and Social Emergency, stating that without it the state couldn't meet fundamental obligations. He assured that the measures won't affect the family basket or vulnerable sectors. Funds will go toward health, security, and key subsidies.
In the televised Council of Ministers on Monday, led by President Gustavo Petro from the Casa de Nariño, Finance Minister Germán Ávila outlined the need for Colombia's Economic and Social Emergency. Without it, the government would face a crisis in covering basic rights amid severe budget shortfalls.
Ávila specified that in health, a Constitutional Court ruling requires equalizing the Capitation Payment Unit (UPC) between subsidized and contributory regimes, needing an extra 3.3 trillion pesos. For security, one trillion pesos are required for the 2026 elections and 2.7 trillion for public order, totaling 3.7 trillion.
Other allocations include the extended climate emergency, reconstruction of Paratebueno after a recent earthquake, and aid for flood victims, at about 0.5 trillion pesos. Subsidies for electricity and gas in the Caribbean region total 5.1 trillion, judicial sentence payments 1.6 trillion, and reparations for armed conflict victims a similar amount.
Ávila stressed that fiscal efforts target taxes on large fortunes, high-income sectors, the financial system, and 'healthy taxes', balancing fiscal sustainability with social protection. 'The measures adopted will not affect the family basket or the most vulnerable sectors,' he assured.
