Colombia boosts next year's budget by 12 percent

Colombia plans budgetary spending for next year of $103 billion, 12.2 percent higher than in 2012, a senior government source said.

Latin America's fourth-largest economy expects growth to stay steady in 2013 at 4.8 percent, the same level as the expansion target for this year as a cycle of rate hikes begins to cool the Andean nation's gross domestic product.

The senior government source gave no details on the budget, which the finance minister is expected to present today.


 

Source: Reuters