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Reuters
Reuters
World

Colombia's government presents bill to Congress to increase public spending

FILE PHOTO: A employee counts Colombian pesos at a store in Bogota, Colombia December 28, 2018. REUTERS/Luisa Gonzalez

Colombia's government on Friday presented a law to the country's Congress to raise public spending in its budget this year by 25.4 trillion pesos ($5.11 billion) in a move to finance the social plans put forward by President Gustavo Petro.

Most of the resources to hike public spending will come from a tax reform approved by Congress last year, which came into affect in January, as well as those obtained from public companies.

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