Foreign affairs, education and health lead February budget execution

Colombia's Ministry of Finance reported that Foreign Affairs, Education and Health had the highest budget executions at the end of February 2026, at 16%, 14.4% and 13.3% respectively. The overall average across sectors was 10.4%. Science, Technology and Innovation, Sports and Housing lagged with 2.7%, 2.5% and 1%.

Colombia's Ministry of Finance and Public Credit released budget execution data for the 2026 General Nation Budget (PGN) covering the first two months, through the end of February. Foreign Affairs, Education, and Health led with executions of 16%, 14.4%, and 13.3%, exceeding the 10.4% sectoral average. Operating expense execution speed averaged 11.5% across sectors, per official data reported on March 25, 2026. Lowest performers were Science, Technology and Innovation at 2.7%, Sports and Recreation at 2.5%, and Housing at 1%. Debt-free commitments reached $116.5 trillion, up 23.6% from February 2025. Total payments amounted to $45.2 trillion, or 10.1% of the current appropriation, with $21.9 trillion for debt service. The ministry stated: «Most resources executed for debt service correspond to obligations from commitments with Multilateral Organizations, Pension Bonds, TES Class B, and Value Titles». For investment, with $88.4 trillion appropriated, top executions were Information and Communications Technologies (TIC) at 12.3% ($209 billion), Social Inclusion at 12% ($1.29 trillion), and Commerce, Industry and Tourism at 11.6% ($39 billion). The 2025 budget lag totaled $48.9 trillion, of which $19.5 trillion has been mobilized (39.8%). Transfers, allocated $269 trillion (75.1% of total operating budget), saw $31.5 trillion committed (11.7%), prioritizing pensions, health services, and territorial education investment. Leaders included financial surplus transfers to the nation (61.8%, $1.6 trillion), teachers' social benefits (18.3%, $867 billion), and health insurance (16.5%, $7.7 trillion).

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Colombian Finance Minister presenting 2026 economic projections including dollar rate at $3,801 and Brent oil at $59.2, amid charts and a skeptical press audience.
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Colombian government projects dollar at $3,801 and brent at us$59.2 for 2026

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The Ministry of Finance published the Financial Plan for 2026, projecting 2.6% GDP growth and 5.8% inflation. The document estimates an average dollar rate of $3,801 and Brent barrel at US$59.2, though analysts warn of calculation errors and lack of concrete measures for fiscal cuts. The publication was delayed by more than a month compared to previous years.

Colombia's Ministry of Finance reported 20% execution of the General National Budget by the end of the first quarter of 2026. The ministries of Energy and Mines, Education, and Health showed the highest progress after debt service. Obligations reached $109.5 trillion and commitments $187.3 trillion.

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The Ministry of Finance reported that at the end of January 2026, the sectors of Foreign Affairs, Environment, and Education recorded the highest budget executions in the National General Budget. These reached 10.5%, 8.6%, and 6% respectively, above the overall average of 3.9%. Total payments amounted to 17.1 trillion pesos, with 8.2 trillion allocated to debt service.

The National Administrative Department of Statistics (Dane) reported that Colombia's annual inflation for February 2026 was 5.29%, a slight slowdown from January's 5.35%. The monthly Consumer Price Index (CPI) variation stood at 1.08%, driven by rises in education and food. This figure remains above the Central Bank's target range of 3%.

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Finance Minister Enoch Godongwana presented the 2026 National Budget on 25 February 2026, announcing debt stabilisation at 78.9% of GDP and the withdrawal of proposed tax increases. The budget allocates R292.8 billion for social grants with increases for recipients and commits R1.07 trillion to infrastructure over the medium term. Reforms aim to enhance economic growth and public service efficiency amid a projected 1.6% growth for 2026.

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.

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The Colombian Pension Administrator, Colpensiones, ended 2025 with total incomes of 2.25 trillion pesos, 21% more than in 2024. The net result was a profit of 722.904 million pesos, 24% higher than the previous year. These figures reflect strong financial performance driven by commissions and operations.

 

 

 

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