Colombia's New Economic Emergency Decree to Tackle Flood Crisis
Colombia's government plans to introduce an economic emergency decree to raise 8 trillion pesos for flood disaster response. The decree will implement a tax on companies with assets over 10 billion pesos. Finance Minister German Avila announced these details on Tuesday, aiming to support affected areas urgently.
- Country:
- Colombia
The Colombian government is set to propose an economic emergency decree to generate 8 trillion pesos ($2.19 billion) for urgent flood response initiatives across the nation, as stated by Finance Minister German Avila on Tuesday.
This decree is geared towards imposing a tax on corporations with assets exceeding 10 billion pesos ($2.73 million), in a strategic move to fund relief efforts in flood-impacted regions.
Amidst rising environmental challenges, the government is taking critical steps, including this fiscal measure, to alleviate the hardships faced by affected communities.
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