Colombia’s Fiscal Crisis Is Deepening Under President Petro ...Middle East

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Colombia’s Fiscal Crisis Is Deepening Under President Petro
source : OILPRICE ( Middle East ) () 78
The finances of Latin America’s fourth-largest economy, Colombia, are in total disarray. Nearly four years of fiscal mismanagement by Colombia’s first elected leftist leader, President Gustavo Petro, sparked fears of a financial crisis engulfing the strife-torn Andean nation. A combination of dwindling tax revenue and excessive spending is rapidly depleting Bogota’s coffers. Even Petro’s tax hikes, which took on a worrying sense of regularity, did little to salvage government finances while sharply impacting economically…

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