Colombia cuts additional $1 bln from 2015 budget

lunes 9 de noviembre de 2015 16:39 GYT
 

BOGOTA Nov 9 (Reuters) - Colombia's government has reduced its budget for this year by an additional 3 trillion pesos ($1.03 billion), bringing total cuts to 9 trillion pesos, President Juan Manual Santos said on Monday, as low oil prices crimp government finances.

The decision was a "demonstration of the fiscal discipline the entire government is committed to," the president said.

The cuts will come from departments where a reduced budget will not "traumatize" normal government operations, Santos said, without specifying further.

The Andean country has a budget of 210.6 trillion pesos for this year.

Congress approved a slight budget increase for 2016, to 215.9 trillion pesos, but reduced investment in some sectors because of low prices for crude, the country's biggest export and source of foreign exchange.

($1 = 2,896.19 Colombian pesos) (Reporting by Monica Garcia; Writing by Julia Symmes Cobb; Editing by Lisa Shumaker)