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Colombia must control spending target, says Fitch

Friday, February 23, 2018

While rising government revenues will make it more likely for Colombia to hit its 2019 fiscal deficit target of 2.2 percent of GDP, Fitch Ratings this week issued a statement warning that officials in Bogotá must also keep spending in check to meet the goal.

Despite the austerity approach of the federal government, reaching the goal will “likely depend largely on reducing spending, which has been steady over the last five years,” stated the rating agency.

Source: Finance Colombia