Back in March of last year, when the gasoline subsidy was approved, the CIEP already warned that Mexico could lose as much as 554 billion pesos — 2 percent of the country’s gross domestic product (GDP) — as a result of the policy
Read more
By KELIN DILLON According to a new report conducted by daily Mexican newspaper El Universal, Mexico has spent more than 85 percent of its savings since Mexican President Andrés Manuel López Obrador (AMLO) entered office in 2018. These funds, housed in the Budget Income Stabilization Funds (FEIP) and the Income Stabilization Fund of the Federal Entities (FEIEF), had built up
Read more
By KELIN DILLON According to the Mexican Center for Economic and Budgetary Research (CIEP), if the current tax subsidies provided to gasoline and diesel by the Special Tax on Production and Services (IEPS) are maintained, the Mexican economy will lose 554 billion pesos and experience 2.4 percent contraction in GDP in 2022 as a direct result of the policy. Given
Read more