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Colombia’s Finance Ministry expect economic growth in 2010 to be 2.5
percent. The target for the country’s fiscal deficit next year was set
at 3.5 percent of the BDP.
The 3.5 percent deficit equals 9 trillion pesos (US$4.4 billion).
According to Finance Minister Oscar Ivan Zuluaga, the deficit is largely due to decreased income through taxes and state oil company Ecopetrol, because of the current financial crisis.
The Government plans to issue US$1.5 billion worth of peso bonds to
finance the government’s budget.
