Who is in charge of correcting this situation?
The statements published this Tuesday by Natalia Gutiérrez, president of Acolgen, on her X account, that the country is 'only 10 days away from an unprecedented economic deterioration,' cannot go unnoticed.
TL;DR
- Colombia faces an imminent economic deterioration, with predictions of unprecedented fragility.
- A wealth tax for legal entities is expected to cause non-payment due to physical impossibility, impacting productive sectors.
- Fiscal deterioration since the pandemic, persistent inflation, and slowing growth drivers (consumption and public spending) contribute to economic uncertainty.
- Growth projections for 2026 range from 2.3% to 2.8%, impacted by household consumption exhaustion and historically low private investment.
- Remittances now exceed oil exports, indicating a reliance on the financial contributions of Colombians living abroad.
- The fiscal deficit is at 6.4%, comparable to the crises of the 1990s, with public spending growing unsustainably and the National Treasury's cash reserves at critical lows.
- Public spending increases are attributed to the ruling party's desire to maintain power, alongside minimum wage hikes that are likely to increase inflation.