Public sector
During the first semester of 1999,
the non-financial public sector registered a deficit of Col. $1.5 billion, equal to 0.98%
of GDP. Respect to the Government annual goal, the observed deficit amounts to 20% of the
goal. 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. During the first semester, the National Government
presented a fiscal imbalance equivalent to 2.2% of GDP, and it is expected that at the end
of the year the deficit will grow to 5.7% of GDP. The Social Security Fund registered
surpluses by 0.54% of GDP. Finally, the financial results of other agencies such as
Ecopetrol and The National Coffee Fund registered surpluses of 0.64% and 0.02% 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 |
2,102.0 |
2,493.0 |
-391.0 |
-0.3 |
Ecopetrol |
5,231.5 |
5,102.0 |
129.5 |
0.1 |
3,111.0 |
2,124.0 |
987.0 |
0.6 |
Carbocol |
447.0 |
330.0 |
117.0 |
0.1 |
224.0 |
81.0 |
143.0 |
0.1 |
Telecom |
1,403.0 |
1,197.0 |
206.0 |
0.1 |
826.0 |
727.0 |
99.0 |
0.1 |
Medellín Metro |
102.0 |
25.0 |
77.0 |
0.1 |
68.0 |
32.0 |
36.0 |
0.0 |
Other entities |
4,455.0 |
4,198.0 |
257.0 |
0.2 |
3,073.0 |
3,143.0 |
-70.0 |
-0.0 |
Social security |
11,270.0 |
9,128.0 |
2,142.0 |
1.5 |
9,234.0 |
8,401.0 |
833.0 |
0.5 |
Local and regional entities |
16,673.0 |
16,761.0 |
-88.0 |
-0.1 |
10,432.0 |
10,161.0 |
271.0 |
0.2 |
National Coffee Fund |
1,508.0 |
1,476.0 |
32.0 |
0.0 |
732.0 |
767.0 |
-35.0 |
-0.0 |
National Government |
16,880.0 |
23,821.0 |
-6,941.0 |
-4.9 |
9,916.0 |
13,289.0 |
-3,373.0 |
-2.2 |
TOTAL |
62,060.5 |
66,902.0 |
-4,841.5 |
-3.4 |
39,718.0 |
41,218.0 |
-1,500.0 |
-1.0 |
|
1/ Correspond to
the first semester of 1999.
2/ Do not include privatization revenues. For 1998 the privatization
total is $752 billion of pesos.
3/ Includes net loans.
Source: Council for Fiscal Policy (CONFIS) and National Planning Department
- (DNP). |
