The central government of Colombia has announced it plans to raise taxes and cut spending on a new fiscal bill to be passed to Congress in the first half of the year. This bill aims to boost revenue by at least 1.5% of gross domestic product a year and contribute to the government estimates of annual GDP growth above 5%.
Latin American power utility, AES Gener SA, has secured roughly $306 million in a capital increase to support wind, solar and battery storage projects in Chile and Colombia. These funds will help its renewables portfolio in Chile and Colombia to reach 2,305 MW capacity by 2023.
With the National policy, Con Agricultura Por Contrato (Contract Agriculture), the central government expects to add 100,000 new farmers to program this year, reaching 230,000 beneficiaries. This policy helps farmers to sell their products without intermediaries. After two years of implementation, this program has generated $280 million (COP 1 billion) in sales with more than 766 strategic commercial allies nationwide.
According to the national statistics agency, DANE, livestock exports reached record-high $267.1 million in 2020. It represented a 102.34% increase between 2019 and 2020. The top highest destinations are Russia ($29.1 million); Lebanon ($ 26.4 million) and Hong Kong ($16.7 million).
Public pension fund company, Colpensiones, registered 79,000 new beneficiaries last year, reaching a total of 1.43 million. In 2020, its profit also jumped to an all-time-high $67 million ( COP 243,000 million) after four years of the consecutive of gains. Since 2018, it has reported an accumulated 92.8% increase in profit.