General Government Expense for Colombia
COLGGEIGDP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.59
Year-over-Year Change
-2.44%
Date Range
1/1/2011 - 1/1/2024
Summary
The 'General Government Expense for Colombia' indicator measures the total expenditures of the Colombian government, providing insights into fiscal policy and economic management.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the general government's total expenditures as a percentage of Colombia's gross domestic product (GDP). It is a key metric for analyzing the size and role of the public sector in the Colombian economy.
Methodology
The data is compiled by the International Monetary Fund (IMF) based on official government finance statistics.
Historical Context
Policymakers and analysts use this trend to assess the government's fiscal stance and the impact of public spending on the broader economy.
Key Facts
- Colombia's general government expense was 26.7% of GDP in 2021.
- Government spending has increased from 18.7% of GDP in 2000 to 26.7% in 2021.
- The COVID-19 pandemic led to a significant increase in Colombia's government expenditures.
FAQs
Q: What does this economic trend measure?
A: The 'General Government Expense for Colombia' indicator measures the total expenditures of the Colombian government as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the size and role of the public sector in the Colombian economy, as well as the government's fiscal stance and the impact of public spending on the broader economy.
Q: How is this data collected or calculated?
A: The data is compiled by the International Monetary Fund (IMF) based on official government finance statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the government's fiscal stance and the impact of public spending on the Colombian economy, which informs policy decisions and economic management.
Q: Are there update delays or limitations?
A: The data is typically updated annually, with a short delay due to the time required for data collection and reporting by the Colombian government and the IMF.
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Citation
U.S. Federal Reserve, General Government Expense for Colombia (COLGGEIGDP), retrieved from FRED.