GOVERNMENT BUDGET DEFICIT
Understand this part is very easy, but is necessary to define this concept, the Budget Deficit may be compared with a profit organization that pay its financial obligations with its money but this company don´t earn enough amount of money to pay (Central Bank of Colombia, 2015), the same thing occurs with a nation like Colombia, don't earn enough money to pay important passive accounts like external debt causes this Budget Deficit, that obviously affects all the inhabitants of the nation.
In Colombia the latest reports inform that the external debt and public debt increase a lot in the last 15 years, this chart shows the Budget Deficit that Colombia have in this moment:
This chart put in alert all the monetary institutions, including the Central Bank and Treasury Ministry, because this affects all the national economy, including the microeconomic behavior of the producer and consumer, because this passive accounts are debts of all the Colombia's population (Central Bank of Colombia, 2016). Recently, the minister of treasury came to La Sabana University to talk about “the new economy that comes behind the peace agreements”. He talked about a new goal to stop the growth of the budget deficit and the economy of Colombia when the war finally stops, he exposes this idea in 2015 with a press note. (Treasury Ministry, 2015).
BIBLIOGRAPHY
Cardenas, M (2016). Visita en Unisabana [foto].Recuperado de http://www. https://www.flickr.com/photos/minhacienda/28799044361/in/album-72157671330954532/lightbox
Finally, this problem that involve all the Colombian society affects our company too, but how? well, when all the population of the nation must pay these debts the people doesn’t have money to bought any good including our product, that’s the reason why people don´t have any cent to sell anything.
Subgerencia Cultural del Banco de la República. (2015). Déficit fiscal. Recuperado de: http://www.banrepcultural.org/blaavirtual/ayudadetareas/economia/deficit_fiscal
Central Bank of Colombia. (July de 2016). Banco de la República. Obtenido de http://www.banrep.gov.co/sites/default/files/paginas/bdeudax_m.pdf
Treasure Ministry. (23 de December de 2015). Ministerio de Hacienda. Obtenido de http://www.minhacienda.gov.co/HomeMinhacienda/ShowProperty;jsessionid=KgdSActdq5c0qM9lebOjN18m0bpAoy26h54N26TVFECoFAiT-Yhn!203701145?nodeId=%2FOCS%2FMIG_47714604.PDF%2F%2FidcPrimaryFile&revision=latestreleased
