Energy, education and health lead budget execution through March

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.

Colombia's Ministry of Finance released preliminary budget execution figures as of March 2026 on its Economic Transparency Portal. They indicate 20% progress on current appropriations in the General National Budget. Effective payments totaled $105 trillion during the period.

Debt service led with 33% execution, the highest among all sectors. Excluding this, the Ministry of Mines and Energy achieved 26.6%, followed by Education at 22.4%, Congress of the Republic at 22%, Health at 21.5%, and Foreign Affairs at 21.2%.

Entities with the lowest execution were the National Registry at 7.8%, the Presidency of the Republic at 4.7%, and the Ministry of Science and Technology at 4%. These figures reflect resource usage through the first quarter of the year.

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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 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%.

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An ANIF report states that the gross debt of Colombia's National Central Government ended 2025 at $1.194 trillion, or 64.4% of GDP, the highest since the 2020 pandemic. Treasury liquidity hit historic lows, with cash on hand covering just five days of obligations in February 2026.

The Dane reported that Colombia's GDP rose 2.2% in the first quarter of 2026, below the 2.5% recorded a year earlier. Growth was driven mainly by public spending and household consumption, while sectors such as construction and agriculture posted declines.

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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.

Colombia's Ministry of Finance placed 900 billion pesos in short-term Treasury titles (TCO) through a public auction, with a cutoff rate of 13.65% for the one-year reference maturing on March 23, 2027. It received bids totaling 1.3 trillion pesos, 1.5 times the amount offered.

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Foreign direct investment reached US$3.794 million between January and March 2026, up 63.4% from the previous quarter.

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Colombia external debt closed March at US$252.493 million

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