Colombia seeks budget shift to boost 2015 social investment
Colombia seeks budget shift to boost 2015 social investment
BOGOTA Wed Sep 24, 2014 7:45pm EDT
(Reuters) - Colombia proposed reallocating about $1.5 billion (3 trillion pesos) in its 2015 budget plan for infrastructure and social spending, Finance Minister Mauricio Cardenas said on Wednesday.
The amount had been earmarked for public administration and debt servicing costs under the government's original 216.2 trillion peso budget. But Cardenas said the funds would be shifted to the investment portion of the budget, which includes spending on education, housing and roadways.
His comments to reporters outside Congress come as the government has fallen under criticism for a proposed tax reform, aimed at plugging a 12.5 trillion peso financing gap, that some say would hurt the middle class and businesses.
"To be faithful to promises made during the campaign, we will increase social investment," Cardenas said, referring to pledges made during President Juan Manuel Santos' successful re-election bid in June.
More:
http://www.reuters.com/article/2014/09/24/us-colombia-economy-budget-idUSKCN0HJ2JX20140924?rpc=401