Colombian budget for next year to be $101 billion

Colombia will seek budgeted spending next year of as much $101 billion, a level higher than previously indicated by the government, according to a lawmaker with direct knowledge of the draft bill.

The 2013 budget, which could change during its passage through Congress, is higher than was approved for spending this year, said Angel Cabrera, a ruling party lawmaker in the economic commission of Congress.

Finance Minister Juan Carlos Echeverry is scheduled to present the bill on July 27.



Source: Reuters