By KELIN DILLON Despite demands from Mexico’s in-power National Regeneration Movement (Morena), the party of President Andrés Manuel López Obrador (AMLO) and current majority in the congressional lower house, that it put an end to apparent “privileges” by the autonomous organization the National Electoral Institute (INE), Morena members serving in the Chamber of Deputies have still been enjoying the major
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By KELIN DILLON In new data revealed on Thursday, Jan. 6, by the Mexican Secretariat of Finance (SHCP), Mexico’s difference between income and public sector spending reached 472.8 billion pesos in 2021, the largest deficit the country has seen in the last six years. Between January and November of 2021, Mexico brought in some 5.2 trillion pesos through tax revenue,
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By KELIN DILLON On Wednesday, Nov. 24, Mexican President Andrés Manuel López Obrador (AMLO) nominated Undersecretary of Expenditures of the Secretariat of Finance (SHCP) Victoria Rodríguez Ceja to head the Central Bank of Mexico (Banxico) despite her inexperience, in what many said was a snub to former SHCP head Arturo Herrera, who had been informed of his loss of the
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Why is Mexico Sinking?
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By KELIN DILLON On Wednesday, Nov. 10, Mexico’s in-power National Regeneration Movement (Morena) and its allies passed the country’s proposed 2022 budget through Congress without any financial reductions, despite the opposition’s request for such, in a 274 to 219 split vote. The move will see 7.08 billion pesos allotted for all of Mexico’s expenditures in the upcoming year, controversially allocating
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By KELIN DILLON Mexico’s autonomous election organization the National Electoral Institute (INE) was dealt yet another blow against its quest toward electoral transparency by the administration of President Andrés Manuel López Obrador (AMLO), who proposed by majority rule in the Chamber of Deputies to remove 5 billion pesos worth of funding from the INE in its Expenditure Budget of the
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By KELIN DILLON If Mexico’s controversial proposed reform to give carbon-based energy priority to the state-owned Federal Electricity Commission (CFE) reaches passage, the CFE will be required to heighten its budget and subsequently “charge a bill” to the Mexican government or the shift will likely result in blackouts, revealed a study by the Mexican Institute for Competitiveness (IMCO). The reform
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By KELIN DILLON In a move on Tuesday, Oct. 27, Mexico’s Secretariat of Finance dedicated 154.7 million pesos in budget to the General Directorate of Legal Consulting for International Trade of the Secretariat of the Economy, to be used during 2022 to defend the country against potential litigation from outside countries. The International Trade Legal Consultancy likewise provides advice and
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By KELIN DILLON After recent adjustments, members of the Mexican Chamber of Deputies will now be allowed to receive more than 234,000 pesos per month in stipends without paying taxes, triple their mensual salary and standing in stark contrast to the funding decrease of the nation’s cultural and scientific sectors. Some 330 deputies receive paid airplane tickets to travel across
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End of Year Forecast
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