Colombia to enact 2027 budget by decree after congressional process fails

BOGOTA, Oct 21 (Reuters) - ‌Colombia's government ​said ​on Wednesday it will enact its 2027 budget of 634.9 trillion pesos ($198.83 billion) ‌by decree after a procedural error in Congress ⁠derailed final approval of the bill, testing the new ‌administration's ability to manage public ‌finances and reassure investors.

The Senate and lower chamber passed different versions of the budget bill ​earlier this week without reconciling the changes, causing lawmakers and legal experts to argue the ⁠process was invalid.

• Vice President Jose Manuel Restrepo said the government's ​original proposal, together with the amendments previously approved by lawmakers, will now take effect

• ​The Senate approved the bill ‌on Monday night and the lower house passed it early Tuesday, but a ⁠disputed article was approved with different wording in each chamber and never went through the required conciliation process

• ⁠Colombia is facing widening fiscal pressures - the 2027 spending ​plan is larger than the 2026 budget of 555.8 trillion pesos and projects a fiscal deficit of 9.4% of gross ‌domestic product

• Later on Wednesday President Abelardo De La Espriella replaced Interior ‌Minister Rodrigo Lara with Alejandro Ordoñez

($1 = 3,193.1200 Colombian ⁠pesos)

(Reporting by Luis Jaime ‌Acosta and Carlos ​Vargas; Writing by Aida Pelaez-Fernandez and Kylie Madry; Editing by Toby Chopra and Anthony ‌Esposito)

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