Oct. 8 (Bloomberg) -- Colombia’s government reduced its fiscal deficit forecast as tax income exceeds projections, President Juan Manuel Santos said.
The deficit this year probably will be 3.3 percent of gross domestic product, less than a previous 4 percent forecast, Santos told a conference in Cartagena, according to comments published yesterday on the presidential website.
Colombia’s economy expanded 5.2 percent in the second quarter from a year earlier, the second-fastest pace in three years. Tax revenue will be about 8 percent more than previously calculated, giving the economy a better position to face an “uncertain global panorama,” Santos said.
“We are going to be better protected for any eventuality,” he said, according to the statement.
--Editors: Sylvia Wier, Mike Millard
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