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Colombian Congress to receive economic reactivation measures

Bogotá, May 13 (Prensa Latina) The president of Colombia, Gustavo Petro, confirmed that the Government will submit proposals to Congress for the economic reactivation of the country to develop sectors such as agribusiness, tourism, housing, and manufacturing.

The president assured on X, that the country’s enrollment in the cutting-edge economy is advancing based on real leaps in clean energy, fiber optic connectivity at home, and learning, as well as in the development of artificial intelligence.

The president mentioned other initiatives that could be applied to reducing the corporate income tax rate, applicably to companies, and increasing the income tax rate for high-income individuals by the same magnitude if the business community deems it appropriate.

“In my Government, tourism and agriculture have worked very well in the national economy. They were proposed as locomotives in my campaign, and we have complied,” Petro noted in his message, adding that the economy of open pit coal and its export is already in crisis just as it was announced.

To make up for the reduction in hydrocarbon sales due to a drop in variations in global demand, it is essential to develop export agro-industry and industry, said the president, and estimated that the nation is not moving forward.

Petro also considered that one of the situations that characterize the country is that the fall in the inflation rate is not followed by the decrease in the interest rate to the same magnitude, which, in his opinion, causes the real interest rate to grow and stagnates the purchase of housing, cars and consumption in general.