Colombia Trims Budget

Colombia is to trim almost $600m from its 2007 budget in a drive to reduce its deficit, according to the country’s finance ministry. The budget will be reduced from COP117.6trn to COP116.4trn by curbing spending plans, the government said. Of the total COP1.15trn reduction, the government will cut planned infrastructure investment by COP773bn and will reduce local debt costs by COP224bn.