Gustavo Petro's bittersweet economic balance 100 days before the end of his term
Just 100 days before President Gustavo Petro's government ends its term, which will begin counting from April 29, this is the economic outlook left by the president...
TL;DR
- The unemployment rate was the lowest of the century, but five out of ten workers are informal.
- Budgets reached historically high levels, increasing from $350.4 trillion in 2022 to $546.9 trillion in 2026, but were often unfunded.
- Multiple tax reforms were required due to unfunded budgets, with only one passing Congress.
- Economic growth rates have been below the decade's average, with figures of 7.3% in 2022 dropping to 2.6% in 2025.
- The mining and energy sector has declined, with exports falling from $26.6 billion in 2022 to $15.1 billion in 2025, and foreign direct investment also dropping significantly.
- Poverty reduction was a notable achievement, with monetary poverty decreasing from 36.6% in 2022 to 31.8% in 2024.
- Fiscal deterioration is a major concern, with the central government deficit reaching pre-pandemic levels and debt exceeding fiscal anchors.
- Investment has fallen to a two-decade low, and institutional tensions and uncertainty persist.
- Public debt increased by approximately $148 billion in 43 months, from $183 billion in August 2022 to $331 billion in March 2026.