Fiscal Adjustment Bill should not raise year-end consumption costs, sector analysis says

FinanceColombiaLa RepúblicaNov 3, 2026, 12:01 AMAI summary

The Fiscal Adjustment Bill, which includes a tax reform and is expected to take effect in 2027, does not justify hotels, bars and restaurants raising prices during the year-end season, according to the text. Household consumption accounts for about 74% of GDP. Banco de la República kept its policy rate at 12.25% after its October meeting, and the Financial Superintendency certified the usury rate for consumer credit at 28.34% for November.

In 40 seconds

The Fiscal Adjustment Bill is expected to take effect in 2027, so there would be no legal grounds to anticipate year-end price increases.
Household consumption accounts for about 74% of GDP and is the main driver of domestic demand.
Banco de la República kept its monetary policy interest rate at 12.25% after its October meeting.

Read the full story at La República

IASummary generated by artificial intelligence from a story by La República. It may contain errors: the original source prevails.

reforma tributaria
consumo
Banco de la República
tasa de usura
fin de año

Comments

Be respectful. Comments reported by several people are hidden until a moderator reviews them.

You do not need an account to read, only to comment. Sign in with a code sent to your email or with your Google account. We only show the name you choose, never your email.

Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review
The International Monetary Fund expressed support for the economic rescue bill submitted by Colombia's national government to Congress, calling it a significant step to address the fiscal challenges inherited by the new administration and to strengthen the country's fiscal sustainability. Banco de la República general manager Leonardo Villa asked for the bill to be studied rigorously, while the government warned of negative consequences if it is not approved. The legislative debate is set to begin in the coming weeks.
FinanceColombiaNoticias RCN9:46 PMAI
Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA
Colombia's parks and attractions industry generated US$1.095 billion in revenue in 2024, 57% more than the US$698 million recorded in 2022, according to a study by the Global Association for the Attractions Industry (IAAPA). The country ranks sixth in sector revenue in the region. Visitors topped 11.2 million in 2024, 45.5% more than the previous year, and the offering reached 988 attractions, with museums and science centers as the largest group.
FinanceColombiaEl Tiempo6:53 PMAI
President requests urgent congressional passage of fiscal adjustment bill
President Abelardo de la Espriella asked Congress to give urgent and insistent passage to the fiscal adjustment bill promoted by Finance Minister Miguel Gómez, citing Article 163 of the Constitution and Law 5 of 1992. The request, also signed by acting Interior Minister Iván Cancino, gives the bill full priority and convenes joint committee sessions. The initiative includes a 15% reduction in the state structure and tax adjustments that would affect the household basket.
FinanceColombiaPulzo5:45 PMAI
Oil edges lower after U.S. bombs Iran ahead of Election Day
Oil prices swung back and forth on Tuesday and extended losses from earlier in the week, on a day marked by U.S. bombing of Iran ahead of the elections. Major oil stocks also fell, including Chevron and ExxonMobil.
FinanceInternationalInvestor's Business Daily4:07 PMAI

Fiscal Adjustment Bill should not raise year-end consumption costs, sector analysis says

In 40 seconds

Comments

Keep reading

IMF backs economic rescue bill as Banco de la República calls for rigor in its review

Parks and attractions in Colombia generated US$1.095 billion in 2024, according to IAAPA

President requests urgent congressional passage of fiscal adjustment bill

Oil edges lower after U.S. bombs Iran ahead of Election Day