Bloomberg News

Colombia Budget Gap Was 2.9% of GDP in 2011, Correval Says

February 01, 2012

(Updates with consolidated budget deficit in second paragraph.)

Feb. 1 (Bloomberg) -- Colombia’s central government budget deficit was 2.9 percent of gross domestic product last year, less than the government’s December forecast of 3.2 percent, Correval SA said.

The Andean nation’s consolidated budget deficit, which includes states, municipalities and state-run companies, was 2.2 percent of GDP, compared with the government’s prior estimate of 2.9 percent, the Bogota-based brokerage said, citing a meeting today between Finance Ministry officials and investors.

Officials from the ministry didn’t immediately answer calls when contacted by Bloomberg.

The government “temporarily” suspended auctions of short- term notes, known as TCOs, Correval said, citing the unidentified officials.

--Editors: Philip Sanders, Robert Jameson

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.


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