Colombia 2027 deficit to improve on 1.4% GDP tax adjustment, revenue falls

Colombia's fiscal authority (ICP) projects a 2027 deficit improvement contingent on a tax adjustment equal to 1.4% of GDP, while tax revenue is set to decline from $337.3 trillion to $315.1 trillion. The plan signals fiscal tightening amid lower revenue, but implementation risk remains. This matters for Colombia's sovereign risk and fiscal credibility.