Desde el año 2004 el Ministerio de Hacienda publica anualmente el Marco Fiscal de Mediano Plazo (MFMP) en el cual se presentan las proyecciones oficiales sobre ingresos y gastos del gobierno central para los siguientes diez años. Como es de esperar, dichas proyecciones están sujetas a altos...

For the past fifteen years, Colombia has been engaged in a grand experiment in decentralization. Since 1986, subnational government spending has increased dramatically, as the regions have assumed greater control of health and education programs and other local services, and an increasing...

This paper analyses these payroll taxes, focusing specially on what is called the "parafiscales". The parafiscales are defined by Artivle 2 of Law 225 (1995) as "mandatory taxes established by law, which affect a certain and unique social or economic group and are used for the benefit of the...

For the past fifteen years, Colombia has been engaged in a grand experiment in decentralization. Since 1986, subnational government spending has increased dramatically, as the regions have assumed greater control of health and education programs and other local services, and an increasing...

Abstract. In this paper we present an analysis of optimal public debt management and its interaction with debt sustainability and apply it to Colombia. Optimal public debt management, already a difficult and complex issues for emerging market economies, becomes even more challenging when a...

Abstract. In this paper we present an analysis of optimal public debt management and its interaction with debt sustainability and apply it to Colombia. Optimal public debt management, already a difficult and complex issues for emerging market economies, becomes even more challenging when a...

"Desde mediados de la década de los 90, Colombia adoptó un nivel de gasto público muy superior al de sus ingresos. Por esa ruta llegó a una crisis previsible, representada en una deuda pública que duplicó en seis años. Este libro reúne las recomendaciones que formuló el Consejo...

Las marcadas restricciones constitucionales y legales, provenientes de la Carta Política de 1991, explican en buena medida las serias dificultades que enfrenta Colombia para contener su creciente gasto público, actualmente bordeando el 18% del PIB a nivel del gobierno central. A su vez, su...

Introduction. Colombia is facing a fiscal situation featuring large and probably unsustainable projected deficits. The solution will almost certainly involve some combination of increased tax revenues and decreased expenditures. Tax revenue increases can come from either raising the rates or...