Finance Ministry delivers report with 8.1% unemployment and 5.8% inflation

The Finance Ministry presented its transition report with macroeconomic data from the outgoing administration.

Minister Germán Ávila Plazas delivered the report required by Law 951 of 2005 during the transition session.

The document lists unemployment at 8.1 %, general inflation down from 13.3 % in 2022 to 5.8 % in June 2026, and net central government debt reduced by 2.2 percentage points of GDP versus 2020.

The minimum wage accumulated an increase of more than 30 percentage points over four years and the debt with the International Monetary Fund was canceled.

The government announced it will submit a tax reform bill on 20 July to broaden revenue without affecting vulnerable households.

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Finance Minister Jorge Quiroz accusing inconsistency in public debt projections during a press conference.
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Quiroz accuses us$10 billion inconsistency in public debt projection

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Finance Minister Jorge Quiroz presented the first-quarter 2026 Public Finance Report and accused errors in the previous government's debt projections.

The Ministry of Finance reported on progress in the transition process with the outgoing government and other key economic topics during the first week.

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The June Monetary Policy Report cut the GDP expansion range for 2026 but improved estimates for the following two years. Officials noted that the adjustments come before the megareform and the US-Iran agreement.

The government of President Gustavo Petro submitted a new tax reform bill to Congress aimed at collecting 21.9 trillion pesos in 2027.

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The National Institute of Statistics and Censuses reported the consumer price index at 2.6% for April, the lowest reading in ten months.

The International Monetary Fund (IMF) issued its statement from the Article IV consultation on Chile on May 4, 2026, praising President José Antonio Kast's National Reconstruction Plan for boosting medium-term growth while warning of fiscal costs requiring further consolidation. The IMF lowered its 2026 GDP growth forecast to 2.2%.

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