Colombia Government Budget

Colombia recorded a Government Budget surplus equal to 0.20 percent of the countrys Gross Domestic Product in 2012. Government Budget in Colombia is reported by the Ministry of Finance, Government of Colombia. From 2001 until 2012, Colombia Government Budget averaged -3.6 Percent of GDP reaching an all time high of 0.2 Percent of GDP in December of 2005 and a record low of -8.5 Percent of GDP in December of 2004. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Colombia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.20 -2.90 0.23 -8.47 1.51 | 2013/12 2001 - 2012 Percent of GDP Yearly

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Colombia Government Budget
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Government Last Previous Highest Lowest Forecast Unit
Government Debt To GDP 32.30 2012-12-31 34.60 45.60 23.30 30.02 2013-12-31 Percent [+]
Government Budget Value -3601.40 2014-02-15 3340.07 9207.09 -10366.03 -2782.04 2014-03-31 COP Billion [+]
Government Spending 12480.08 2014-02-15 9584.24 16402.84 0.12 12686.91 2014-03-31 COP Billion [+]
Credit Rating 49.65 [+]
Government Budget 0.20 2012-12-31 -2.90 0.23 -8.47 1.51 2013-12-31 Percent of GDP [+]
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Government Budget | Notes
A government budget is a legal document that forecasts the government expenditures and revenues for a specific period of time. The period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. A government budget is often passed by the legislature, and approved by the chief executive or president.


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In the first month of 2014, Colombian trade balance turned into a USD 0.7 billion gap, down from a USD 0.34 billion surplus in the previous month. Compared with the same month last year, the trade gap narrowed 79 percent, as imports shrank at a faster pace than exports.
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At its February 28th, 2014 meeting, Central Bank of Colombia decided to leave the benchmark interest rate unchanged at 3.25 percent, as widely expected, saying that interest rates remain at levels that stimulate aggregate spending.
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In December of 2013, Colombia’s trade balance turned into a USD 340 million surplus, up from a revised USD 100 million deficit in the previous month. A year earlier, the country recorded a USD 410 million surplus.
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Colombia's central bank maintained its benchmark interest rate at 3.25 percent as expected as inflation continues to converge toward the bank’s 3.0 percent target and the economy is poised to pick up pace in 2014.
Colombia Trade Deficit Narrows in November  
Colombia trade balance turned into a USD 100 million deficit in November of 2013, decreasing from a USD 510 million deficit in the previous month and a USD 320 million deficit a year earlier. Exports rose 2.5 percent yoy, after falling in the previous two months.
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Colombia Posts Trade Deficit for the Second Straight Month  
In October of 2013, Colombian trade balance turned into a deficit of USD 0.5 billion, from USD -0.3 billion in the previous month and a surplus of USD 0.23 billion last year. While exports recorded the second highest annual drop this year, imports from the US surged 20.5 percent.
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Colombia’s Central Bank decided on November 27th to leave the benchmark interest rate on hold at 3.25 percent for the eight straight time, as widely expected.
Colombia Posts Trade Deficit in September  
In September of 2013, Colombian trade balance turned into a 0.3 USD billion deficit, from a 0.23 billion USD surplus a year earlier, as non-monetary gold sales reported a large drop, while imports were up by 10 percent.
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