Bogota reduced debt costs by 30%, generating savings of $230 billion to make room for greater investment over the next four years

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Bogotá. – The District Secretariat of Finance carried out debt management operations on the portfolio of contracted loans for $1.76 trillion and reduced the cost of this part of the district’s public debt by 30%.

This management generated savings of $132 billion for the next four years and an additional $98 billion until maturity, which translates into greater investment space for the country’s capital.

It is important to mention that the Bogotá Council approved in December 2023 the budget for the year 2024, for an amount of $33.2 trillion, with which the Development Plan 2020 – 2024 «A new social and environmental contract for the Bogotá of the 21st century» will be complied with.

Of the $33.2 billion, $26.41 billion will be allocated for investment expenses, $4.65 billion for operating expenses and $2.13 billion for debt service.

Social investment (Education, Health, Social Integration and Habitat) accounts for the largest share of this budget, $14.7 billion, which is equivalent to 56% of investment. Mobility, with $7.4 trillion and Government with $1.8 trillion, are strategic sectors that will also receive a significant budget, as shown below.