Colombia is aiming to raise its spending for the next year by around 9.5%, Bloomberg reports. As per the plan budgeted spending will increase to $93 billion from $85.24 billion in 2012. The country will raise the spending budget to continue reconstruction of infrastructure damaged by heavy rains, help internal conflict victims and strengthen security. Spending by the government, as part of the 2012 budget, is equivalent to 25.3% of gross domestic product, which is 0.3% more than that for 2011.
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