Colombia recorded a Government Budget deficit equal to 4.20 percent of the country's Gross Domestic Product in 2023. Government Budget in Colombia averaged -3.93 percent of GDP from 2001 until 2023, reaching an all time high of 0.23 percent of GDP in 2005 and a record low of -8.47 percent of GDP in 2004. source: Banco de la República de Colombia
Government Budget in Colombia is expected to reach -5.30 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Colombia Government Budget is projected to trend around -6.00 percent of GDP in 2025 and -4.80 percent of GDP in 2026, according to our econometric models.