Colombia Congress approves $201B budget, reduces peace tribunal funding

Colombia's Congress on October 20 approved a 2027 budget of 634.9 trillion pesos after the Senate passed it late Monday and the House early Tuesday. The total is 16% above the 555.8 trillion peso 2026 budget. The House voted 112-1 and the Senate 57-1. The Historic Pact walked out and boycotted the vote. Debt repayment is set at 141 trillion pesos, about $45 billion, up from about $30 billion in 2026. The budget projects a 9.4% of GDP fiscal deficit. Finance Minister Miguel Gomez thanked lawmakers for a vote of confidence and said the step would steer the economy toward growth and fiscal responsibility. MinHacienda called it the Budget of Truth. The finance ministry said Special Jurisdiction for Peace funding was cut by about 181 billion pesos, or 23%, and reassigned to defense; the Historic Pact cites an 82% JEP cut, a 46% rise in debt service, and a 500 billion peso loss for SENA, stating more goes to debt and less to peace, education and the regions. Jaime Raul Salamanca said free higher education funding was halved from COP800 billion to COP400 billion. Dollar conversions of the total vary by outlet from about $200 billion to about $204 billion. The government plans a Rescue Law aimed at cutting the deficit to 7.2% of GDP. The Historic Pact called a national mobilization for November 24.