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Colombia faces wider fiscal deficit in 2015

Thursday, December 4, 2014

Colombia's fiscal and current account deficits are poised to widen next year, as a drop in oil earnings pushes the country to issue more debt internationally, according to financial firm Corficolombiana analysts.

The fiscal deficit in 2015 will be above the government's target of 2.4 percent of gross domestic product, the analysts said.

The government may modify its targets in the coming weeks to reflect slumping crude earnings in its traditional year-end revision of financing plans, some analysts said.

Source: Reuters