Public sector
During the first quarter of 1999,
the non-financial public sector registered a surplus of Col. $415 billion, equal to 0.25%
of GDP. It is worth mentioning that some public entities execute a large share of their
expenditures during the second semester of the year which permits them to have temporary
surpluses in the first months. The financial cash flow results of the first quarter for
the non-financial public sector seem to fall under this interpretive pattern when the
registered surpluses are contrasted with the consolidated deficit goal of 2.94% of the GDP
for the year. The National Government presented the greatest fiscal imbalance equivalent
to 0.75% of GDP in contrast with its annual deficit goal of 4.03% of GDP. The Social
Security Fund continued to show the largest surpluses, 0.52% of GDP. The annual target of
this sector is a surplus of 0.72%. Finally, the financial results of other agencies such
as Ecopetrol and The National Coffee Fund registered surpluses of 0.15% and 0.03% of GDP,
respectively.
NON FINANCIAL
PUBLIC SECTOR
REVENUES, EXPENDITURES AND DEFICIT
Billon of pesos
ENTITIES |
1998 |
1999 1/ |
REVENUES 2/ |
EXPENDITURES 3/ |
DEFICIT (-)
SURPLUS (+) |
DEFICIT (-)
SURPLUS (+)
(% of GDP) |
REVENUES 2/ |
EXPENDITURES 3/ |
DEFICIT (-)
SURPLUS (+) |
DEFICIT (-)
SURPLUS (+)
(% of GDP) |
Electric sector |
4,091.0 |
4,864.0 |
-773.0 |
-0.5 |
795.0 |
847.0 |
-52.0 |
-0.0 |
Ecopetrol |
5,231.5 |
5,102.0 |
129.5 |
0.1 |
1,263.0 |
1,013.0 |
250.0 |
0.2 |
Carbocol |
447.0 |
330.0 |
117.0 |
0.1 |
115.0 |
83.0 |
32.0 |
0.0 |
Telecom |
1,403.0 |
1,197.0 |
206.0 |
0.1 |
373.0 |
251.0 |
122.0 |
0.1 |
Medellín Metro |
102.0 |
25.0 |
77.0 |
0.1 |
25.0 |
15.0 |
10.0 |
0.0 |
Other entities |
4,455.0 |
4,198.0 |
257.0 |
0.2 |
1,149.0 |
842.0 |
307.0 |
0.2 |
Social security |
11,270.0 |
9,128.0 |
2,142.0 |
1.5 |
2,369.0 |
1,516.0 |
853.0 |
0.5 |
Local and regional entities 4/ |
16,673.0 |
16,761.0 |
-88.0 |
-0.1 |
4,936.0 |
4,874.0 |
62.0 |
0.0 |
National Coffee Fund |
1,508.0 |
1,476.0 |
32.0 |
0.0 |
337.0 |
284.0 |
53.0 |
0.0 |
National Government |
16,880.0 |
23,821.0 |
-6,941.0 |
-4.7 |
5,183.0 |
6,405.0 |
-1,222.0 |
-0.7 |
TOTAL |
62,060.5 |
66,902.0 |
-4,841.5 |
-3.3 |
16,545.0 |
16,130.0 |
415.0 |
0.3 |
|
1/ Correspond to
the first quarter of 1999.
2/ Do not include privatization revenues. For 1998 the privatization
total is $752 billion of pesos.
3/ Includes net loans.
4/ For 1999, correspond to the National Royalties Fund (FNR).
Source: Council for Fiscal Policy (CONFIS) and National Planning Department
- (DNP). |
