Minhacienda submits bill to increase icbf budget

Finance Minister Germán Ávila submitted a bill to Congress to add 500 billion pesos to the budget of the Colombian Institute of Family Welfare. The measure aims to ensure the agency's operations during the second half of 2026.

Ávila explained that the Icbf total budget would rise from 10.96 trillion to 11.46 trillion pesos. Investment would increase from 9.68 trillion to 10.18 trillion pesos while operating funds would remain at 1.28 trillion pesos.

The minister stressed that the addition targets program spending rather than operational costs. The funds would support early childhood development and initiatives for youth and vulnerable families.

Ávila noted that the measure does not change primary spending targets in the 2026 Financial Plan. Filed as bill 500 in the House and 369 in the Senate, the proposal was first seen in late April and seeks to prevent declines in service quality and coverage at the Icbf.

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President Gustavo Petro and Finance Minister Germán Ávila announcing Colombia's $16 trillion tax reform at a press conference.
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Finance ministry confirms $16 trillion tax reform after court ruling

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After the Constitutional Court struck down the December 2025 emergency economic decree, the Colombian government will present a tax reform to raise $16 trillion. Finance Minister Germán Ávila and President Gustavo Petro confirmed the plan in response to the fiscal imbalance. The measure aims to avoid cuts to social spending and address inherited deficits.

Cali's council approved the addition of 1.18 trillion pesos to the district budget for 2026. The funds will mainly target security, mobility and housing.

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The Chilean government submitted a bill to Congress to raise up to USD 1.35 billion for rebuilding homes and infrastructure damaged by 2026 wildfires in Ñuble and Biobío. The plan mixes direct fiscal spending, tax incentives, and private investment attraction, without permanent tax hikes. Mayors from affected areas call for swift approval, while facing criticism from Valparaíso.

Chile's Finance Ministry, under Jorge Quiroz, recommended reviewing 402 programs for the 2027 budget, with 37% in Education, Social Development, and Health. Officials insist no social rights will be cut, aiming for spending efficiency. Responses followed the leak of internal memos sparking criticism.

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The Addis Ababa City Administration cabinet has approved a draft budget of 502.27 billion birr for the 2026/27 fiscal year and sent it to the City Council. The proposal marks a 43.45 percent increase from the previous year's 350.13 billion birr budget.

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