Fiscal Balance in Colombia
Colombia's fiscal deficit hovered in the 2% to 4% of GDP range from 2014 to 2019, before exploding in 2020 as the pandemic exacerbated fiscal pressures. By 2024, the government has failed to contain the deficit, with dwindling tax and export revenues keeping it wider than pre-pandemic levels.
In the year 2024, the fiscal balance in Colombia was -6.71%, compared to -2.41% in 2014 and -4.22% in 2023. It averaged -4.51% over the last decade. For more fiscal balance information, visit our dedicated page.
Colombia Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for Colombia from 2014 to 2024.
Source: Macrobond.
Colombia Fiscal Balance Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -7.8 | -7.0 | -5.3 | -4.2 | -6.7 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Colombian fiscal balance projections for the next ten years from a panel of 28 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Colombian fiscal balance.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Colombian fiscal balance projections.
Want to get access to the full dataset of Colombian fiscal balance forecasts? Send an email to info@focus-economics.com.