During the closing of the Colombian Construction Congress 2026, the Vice President of the Republic, José Manuel Restrepoannounced that for the 2027 General Budget of the Nation an adjustment of almost 70 billion will be applied of pesos.
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This budget was set at a total of 634.9 billion pesos and was issued by the National Government by decree, after a procedural vice in the Congress of the Republic.
This effort adds to the cut of 13.8 billion of pesos announced this Friday in the 2026 General Budget, equivalent to 0.7 percent of gross domestic product (GDP).
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José Manuel Restrepo, vice president of the Republic. Photo:Sergio Cárdenas / EL TIEMPO
“This means a commitment to eliminate all that excess public spending for this year, and for next year it has to involve at least an adjustment of almost 70 billion pesos“, he stated.
The senior official emphasized that no nation in the world has managed to grow on the basis of over-indebtedness or fiscal waste. “This mechanism does not work in a serious and responsible country. The only way is private investment“he asserted.
To this end, the vice president pointed out that it will be decisive to implement a tax incentive scheme and legal security for attract investment in all sectors.
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José Manuel Restrepo, vice president of Colombia. Photo:Camacol
Likewise, he made a vehement call for institutional transparency by pointing out the need to rescue the country from corruption, politicking and improper hiringremembering that the bureaucratic expense registered an increase of more than 40 percent in the previous four-year period.
In his speech to businessmen, the vice president also highlighted that The National Government maintains a long-term commitment with the construction and strengthening of the public housing policytracing three routes of action: rebuild, reactivate and grow.
The first route is focused on priority attention of the areas hit by the recent earthquake, for which there is a initial package of 1.7 billion pesos and a scheme of tax benefits and works for taxes.
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José Manuel Restrepo, vice president of the Republic. Photo:Sergio Cárdenas / EL TIEMPO
The second seeks to remove barriers that slow down construction activity, eliminating regulatory instability and easing financing costs.
The third route aims to lead the country to a growth rate of the 6 percent through five key drivers: State efficiency, talent and training, energy and resources, investment and financing.
Finally, Restrepo urged transform savings into productive investment already structuring large-scale megaprojects capable of attracting national and international capital.
