BOGOTA, Dec. 23 — The Colombian government on Monday issued a decree declaring that the country will enter a 30-day economic and social emergency, said local media.
The move aims to cope with the current severe situation that the country is facing and take necessary measures to curb the spread of the crisis, said the reports.
Media analysis indicates that the direct cause for declaring a state of emergency was the government’s proposed tax reform bill being rejected by Congress on Dec. 9, leaving Colombia’s 2026 national budget facing a fiscal gap of approximately 16 trillion Colombian pesos (about 4.2 billion U.S. dollars).
The decree said that, following the declaration of a state of emergency, the government can issue legally binding decrees to address the crisis and prevent its spread.
It can also temporarily introduce new taxes or amend existing ones. (Namibia Daily News/Xinhua)
