Spanish term or phrase: para corroborar con las leyes colombianas en su artículo con las leyes colombianas en su artículo 54 de modificado por la ley de It's Colombian, from Colombia, South America. This Letter of Intent of the government of Colombia describes the policies that , spending cuts, and bringing forward increases in current revenues scheduled for . Margin (+) or shortfall (-), , September 30, , Submitting to congress a revision of the Budget Code (Ley Orgánica del Presupuesto). Colombia has recently taken steps to enhance the protection of women's 3 Act 54 of and Law of 11 DHS , Tables and


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The amounts of Central Government transfers to departments and municipal governments are not eliminated in the calculation of consolidated non-financial public sector revenue and consolidated non-financial public sector expenditures and, accordingly, the revenue and expenditure figures included above are greater than those that would appear were such transfers eliminated upon consolidation.

Figures for through are subject to revision. Unless otherwise indicated, all peso amounts are stated in nominal terms. Historical amounts translated into pesos or dollars have been ley 979 de 2005 colombia at the historical rates of exchange summarized below.

Inhowever, the Colombian economy contracted by 4.

In more recent years, the Colombian economy has returned to positive real growth with real GDP growing at 3. Inflation, as measured by the change in the consumer price index, declined to an average of 6.

Pages - Seguros del Estado

Real GDP growth in was mainly due to the strength of domestic demand and stronger investment in capital goods, construction and mining exploration. Inflation increased in mainly due to an increase in global commodity prices, which resulted in higher food and oil prices, and the strength of internal demand, which pushed up prices of non-tradable products.

Due to the implementation of trade and foreign exchange liberalization policies, Colombia has experienced current account deficits in ley 979 de 2005 colombia years since At the same time, the government made important efforts to reduce non-rigid expenditures in the framework of the IMF Stand by Arrangements.

This combination of increased revenues and reduced ley 979 de 2005 colombia has been reflected in lower deficits in the last few years.

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The consolidated public sector deficit is estimated at Ps. The better than expected consolidated public sector deficit in was mainly driven by the higher revenues from tax collection ley 979 de 2005 colombia the Central Government and the better result of the social security, which offset higher budgetary execution of local entities.

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Forthe overall public sector deficit was limited to 3. All performance criteria and the structural benchmarks for end-December and end-March were observed Tables 1 and 2.


Construction, manufacturing, energy consumption, loans disbursed by the financial sector and other indicators point to a recovery in economic growth. The overall public sector deficit remains under control, as the central government's tax revenues are ley 979 de 2005 colombia well, while its expenditures are rising as anticipated.

In mid-January and late April its key intervention interest rate was increased by a total of basis points. However, inflation through April stayed high at 7.

Separate Opinion of Judge A.A. Cançado Trindade

The inflation rate through April falls within the program's consultation band of plus or minus 2 percentage points. The foreign exchange intervention that began in mid-February has been held within the program.

Program for 5. The government remains fully committed to its economic program. Real GDP is projected to grow by 2 percent inwhile inflation is expected to decline.

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The external current account deficit is estimated to increase to 2. The performance criteria for net international reserves for June and September are presented in the attached technical memorandum of understanding TMU and are in line with the original program.

The performance criteria on the overall public sector deficit for June and September are presented in the attached TMU and are the same as the indicative targets presented in the December memorandum of economic policies. While fiscal policy faces some risks, the government is committed to achieving the fiscal target for