“Higher oil revenues have a positive impact on cash flow in a scenario of high deficits and significant spending pressure. However, these are not structural revenues; they are resources dependent on a volatile price, which could become a poisoned chalice if used as an excuse to increase spending and relax fiscal discipline.” We are sharing the insights of our partner, César Camilo Cermeño Cristancho, regarding the fiscal impact of the rise in Brent crude prices, as featured in La República and El Colombiano.
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