Economic Emergency: The Five Decrees Issued by Petro Under the Guise of Facing the Winter Crisis
Under the framework of the economic emergency, President Gustavo Petro's government issued decrees 0173, 0174, 0175, 0176, and 0177 of 2026, a package of urgent measures designed to mitigate the effects of floods in the departments of Córdoba, Antioquia, La Guajira, Sucre, Bolívar, Cesar, Magdalena, and Chocó.
TL;DR
- Five decrees (0173-0177 of 2026) have been issued under an economic emergency to mitigate flood impacts in several departments.
- Decree 0173 introduces a temporary wealth tax (0.5% to 1.6%) on companies and individuals with significant assets, projecting to raise around $8 trillion, though some estimate higher figures.
- Decree 0174 facilitates land acquisition for relocating farmers and streamlines land management processes.
- Decree 0175 provides financial relief, credit access, and debt restructuring for affected agricultural producers, including a debt relief plan (PADA) for small farmers.
- Direct contracting and flexibilization of public procurement rules are allowed under Decree 0175, bypassing traditional bidding and Ley de Garantías restrictions.
- Decree 0176 ensures the continuity of the School Feeding Program (PAE) by allowing take-home rations if in-person classes are suspended.
- Decree 0177 mandates hydroelectric and thermal energy companies to transfer an additional 2% of their sales for six months to fund environmental and risk management measures.
- Concerns have been raised by entities like the Contraloría and Anif regarding the use of collected funds, potential double taxation, and the structural impact on investment and energy costs.