Fiscal Resources

Several analysts have warned on the bonanza energy miner looming in the country and the negative effects that she may mean for the Colombian economy to be infected from a kind of Dutch disease, which race with economic sectors other than those where the boom is presented. Welcome alerts. However, the conclusion may not be the of cursing by the arrival in the country of a boom in the petrolero-minero sector. Also, the oppose the entry of substantial resources of foreign investment coming to develop the projects of exploration and exploitation of the resources energetico-minero. And less, of demonizing the coal, as an origamiusa Sunday columnist makes it to present it as a resource highly pollutant and whose process of exploitation, transportation and export is negatively impacted the environment, to the point that best should leave it there buried. The right thing is to design a strategy that allows us to maximize the benefits and minimize the costs, in this sense is necessary to define a fiscal management prudent and conservative, both nationally as departmental and municipal, understanding that the fiscal responsibility of Governments has no substitutes. Hence the importance of defining what have been called the Fiscal rule, allowing not only determine amounts of savings of the petrolera-minera income, but also regulate public spending in line with the administrative implementation capacity, understanding that the endowment of oil and coal is a resource of capital and as such can do not allocate to operating expenses.

The country has to understand that the exploitation of non-renewable resources should translate into an increase of public capital and therefore the strategy should define the areas in which income, such as infrastructure, public services and of course, human capital should be invested. Put another way, the country can not be left sitting on top of a few valuable natural resources while it faces enormous needs and the challenge of overcoming poverty and backwardness economical. It is necessary to define as we invest in the best way the additional resources that will be obtained and ensure an adequate environmental management. In this respect, well worth watching as other countries have done. So for example, needed to understand why countries such as Canada, Australia and Chile have managed to reconcile the development of mining with the economic progress in other sectors, without unleash conflicts between them, or generate processes or actions that are not friendly to the environment.