Gustavo Petro publishes report by J.P Morgan criticizing his government plan

Senator and candidate for the Historical Pact, Gustavo Petro, who is on tour in the department of Boyacá, agitated public opinion again by releasing a report by J.P. Morgan, one of the most reputable financial companies on the planet, in which, according to him, “he sees no alarm or distrust in the plan of government that we presented to change Colombia for Life”.

The English-language document entitled “Colombia's election: A closer look at Petro's proposal” —Elections in Colombia: A closer look at Petro's proposals”, was shared by the left-wing candidate on his Twitter account and analyzes 3 key points, namely: Policies for the Energy and Extractive Industries (Energy and Extractive Industry Policy), Tax Reform (Tax Reform); Land Reform and Pension Reform.

Despite the candidate's optimism, the document criticizes the axes of the proposal in the topics indicated above since the presentation of the conclusions on page 1.

J.P. Morgan says that carrying out Gustavo Petro's government plan in the aspects analyzed would imply for the country a more focused approach to state intervention than is currently being presented, which would result in institutional tensions as well as being a challenge for Colombia's fiscal rule.

“The end-goals are laudable, but the means imply a much-more state-centric focus that Colombia’s current. Which, despite some pledges for gradualism, could imply institutional tension and a challenge for the fiscal rule” afirma el documento original en inglés.

While acknowledging the ambitiousness of his government plan, J.P. Morgan stresses that it would substantially modify the type of state that the country has so far. It should be noted that the evaluations of this organization are carried out from an economic perspective and takes the most controversial aspects of the candidate's proposals. In addition, Petro in his tweet did not fully share the pensions section, one of the most discussed in Colombia in recent weeks.

The reactions were angry from his followers on the social network, mostly critical of the statement with which the candidate shared J.P. Morgan's report.

It is worth noting a thread written by Tatiana Barros (@tbarrosgm), who identifies herself as a youth counselor attached to the Conservative Party, who not only translated specific aspects of that document in which she highlights elements that would compromise both fiscal rule as well as macroeconomic stability in the country, should some ideas suggested in the candidate's government plan be implemented.

“Even so, more spending is always politically attractive, and you must realize that disbursements outweigh ideas for new revenues, the Colombian Tax Rule could be challenged,” said the user presenting the original of the document and its translation.

Others pointed to Petro's publication as “hoax” or “self-destructive trill” because of the candidate's claims cited above.

At the time of writing this note, the latter has not yet pronounced itself with regard to the criticisms generated as a result of its publication.

INFOBAE COLOMBIA shares in its entirety the content disseminated by Gustavo Petro from his Twitter account:

He also disseminates the content of J.P. Morgan that was published by Petro on his account on that social network.

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