Pension reform: $16.2 trillion would be needed to cover expenses in 2027, the Ministry of Finance warned the Constitutional Court

The Colombian Ministry of Finance has informed the Constitutional Court that the national government faces a projected budget deficit of $16.2 trillion for the year 2027. This shortfall is linked to the implementation of the recently proposed pension reform, which is scheduled to take effect in its primary capacity that same year.

According to the Ministry, current budgetary resources are insufficient to cover the additional costs mandated by the reform. The warning highlights the fiscal challenges the government expects to encounter as it prepares for the transition to the new pension system.