Colombian President Gustavo Petro announced Tuesday night that his administration plans to present emergency economic legislation and new tax measures to Congress aimed at addressing budget imbalances for 2026.
During a televised speech, Petro warned lawmakers that he would bypass legislative approval and implement the measures through executive action if Congress refuses to support his economic agenda.
“If necessary, we will declare a new economic emergency in Colombia because what we must save is the standard of living, which is now much higher than at any time in history,” Petro stated during his address to the nation.
The Colombian leader also directed his interior minister to introduce new tax legislation to Congress designed to address the budget deficit projected for 2026, though he did not reveal specific revenue targets or collection amounts expected from the proposed measures.
