Asofondos stated that the 2027 budget submitted to Congress by the previous Colombian government overestimated revenues by about $40 trillion and underestimated expenditures by about $50 trillion. ^[1] Asofondos, the Colombian association of pension fund administrators, said on 2026-09-01 that it backs the government's plan to revise the 2027 budget and adjust spending, calling it a step toward reducing the fiscal deficit and achieving sustainable public debt. ^[2] Asofondos noted that the government has committed to a spending adjustment of about $20 trillion excluding interest. ^[3] Asofondos said the underestimate in expenditures included approximately $20 trillion for public debt interest payments. ^[4] Senator Meisel identified the lack of clear revenue sources as the main problem, noting a projected need for $636 trillion in resources to cover expenses. ^[5] Senator Meisel stated that the government's 2027 budget shows a debt service commitment increase of $50 trillion, representing 24.5% of the total budget. ^[6] Senator Meisel stated that the government's budget does not project significant increases in taxes or current income revenues. ^[7] The senator argued that the government should avoid increasing taxes or cutting social programs, instead focusing on expanding the economy to generate new contributors and revenue. ^[8]