2022 Fuel subsidies

The global energy price crisis caused an important increase in costs for the Colombian government fuel subsidy scheme. 

The Fuel Price Stabilisation fund, who compensates producers and importers for discrepancies between domestic tariffs and international prices, saw its deficit rise between December 2021 and Q2 2021, leading the Colombian government to transfer it COP 3.9 billion at the end of 2021, and COP 14.1 billion in the Spring 2022. The last transfer was partly funded through reserve sales of the State-owned company Ecopetrol.

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