Treasury Minister Miguel Gómez demands in Congress that sectors asking for more funds specify which items to cut. He warns of a deficit in FOMAG and debt maturities of 40 trillion.
Treasury Minister Miguel Gómez brought to the plenary of the House of Representatives a debate on the General Budget of the Nation, where he demanded that sectors requesting more resources specify from which items those funds would come. This information was reported by pulzo.com.
“Everyone asks for more money, but no one says where it should come from,” Gómez wrote on the social network X, according to information released after the session. The minister insisted that any increase in appropriations must be accompanied by a proposal for cuts in other areas, as public resources are limited.
Gómez cited the National Fund for Social Benefits of Teachers (FOMAG) as an example, which has a deficit of 2.7 trillion pesos. The average cost of care per teacher amounts to 7.7 million pesos, compared to 2 million for a patient under the general health system, a difference that, in his view, highlights inefficiencies that need to be reviewed.
“The challenge is not to spend more, but to spend better”
The Treasury head also referred to the National Tax and Customs Directorate (DIAN). He explained that, despite the staff increasing from 10,000 to 16,000 officials in the previous government, revenue targets were not met. At this point, he mentioned “fiscal fatigue”: more tax reforms do not guarantee higher revenues. Of the 18 national taxes, only three account for 95% of the collection.
During his speech, Gómez proposed reviewing the 62 funds and 92 public establishments that are part of the budget, which account for nearly 1% and 1.5% of GDP, respectively. He also mentioned the item of “other transfers,” which totals around 23 trillion pesos and includes about 250 transfers. He suggested that Congress analyze which should be maintained and which could be eliminated or modified.
Regarding debt, the minister warned that next year two short-term payments of 40 trillion pesos are due, equivalent to 2% of GDP. He pointed out that decisions from the previous government increased vulnerability by replacing long-term debt with short-term securities with immediate maturities.
The debate on the General Budget will continue in Congress, where the Government must specify the sources of funding and the items that will be cut to balance the accounts.
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