Congress Rejects Pesos 557 Trillion Budget Proposal, Backs Pesos 546.9 Trillion Alternative

 

On, september 24 of 2025, The Colombian Congress has rejected the government’s original 2026 budget proposal of COP 557 trillion, opting instead for a more modest alternative of COP 546.9 trillion, effectively cutting COP 10 trillion from the initial figure. 

This decision was made after the original proposal was defeated in one of the economic committees, as regulations allow that rejection in any of the four committees is enough to nullify it. In response, legislators introduced a substitute alternate bill led by Representative Olga Lucía Velásquez, which gained rapid support.

Of note, the Minister of Finance, Germán Ávila, expressed willingness to support the reduction, signaling the executive branch’s preference to negotiate rather than push through a decree-based budget. The cut is not just symbolic, it impacts the scale of the accompanying tax‑reform or financing law, which had aimed to raise COP 26.3 trillion but now must be recalibrated. 

Going forward, the budget will be debated in the full chambers (Senate and House), with tensions expected, especially regarding priorities in social programs, infrastructure investment, and fiscal discipline