A semi-mineral water-based paint that is virtually inorganic, includes a water-dispersible acrylic copolymer that is elastic and has a low absorption capacity and that is adapted to be mixed with a cement, an emulsion selected from the group consisting of an acrylic, urethane, vinyl and epoxy alkyd modified emulsion, additives, an inert reinforcement filler, colouring pigments, and a cement base if it is in a liquid state, and water if it is in a solid state, such that a manageable paste formed of a putty is obtained that can regulate, paint and decorate at the same time.