January’s Oil and Tax Revenue Register Below Government Predictions
As a result, Mexico only took in a total of 658.9 billion pesos in public revenue during the first month of 2024
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Morena Members Shatter INE Exam Score Ceiling
The INE knowledge exam covers topics such as constitutional law, governmental law, electoral law and human rights
Read morePemex Liable to Pay $16.7 Billion in Debt before End of 2024
By KELIN DILLON According to the new 2023-2027 Business Plan Report presented by Mexico’s state-owned oil company Petróleos Mexicanos (Pemex), Pemex must pay back more than $16.7 billion in debt amortizations before the end of Mexican President Andrés Manuel López Obrador’s (AMLO) six-year term, which is set to end in 2024. The report revealed that Pemex was able to put
Read moreMexico’s Public Deficit Spikes by 24 Percent in 2022
By KELIN DILLON While Mexico has long been spending more than it brings in through revenue, 2022 saw the country’s public deficit increase by approximately 26 percent – the largest deficit spike it has experienced since 2016. According to figures from Mexico’s Secretariat of Finance (SHCP), Mexico’s public deficit between January and November of 2022 stood at 611.1 billion pesos,
Read moreMexico’s Economic Strength Slips as 2022 Comes to a Close
By KELIN DILLON According to Mexico’s autonomous National Institute of Statistics and Geography (Inegi) and its corresponding Timely Indicator of Economic Activity (IOAE), the Mexican economy slowed down at the end of 2022 as November’s reported .1 percent economic decline ended the nation’s previous four-month streak of positive economic growth. November’s figures represent Mexico’s first economic decline since June 2022,
Read moreGuacamaya Email Leaks Reveal Plans for Sedena-Run Airline
By KELIN DILLON According to information derived from an investigation into millions of the Mexican Secretariat of Defense’s (Sedena) emails, which were leaked by hacktavist group Guacamaya to daily Mexican newspaper El Universal, the Sedena is working on plans to launch its own passenger and cargo airline under the umbrella of the secretariat’s recently created megaproject company, the Olmeca-Maya-Mexica Airport,
Read moreMexican Government Prioritizes Subsidies over Investments
By MARK LORENZANA The Mexican federal government has continued its trend of prioritizing subsidies over investments, despite the economic crisis brought about by the covid-19 pandemic. In the first six months of this year, subsidies and financial transfers totaled 463.5 billion pesos, according to data released by Mexico’s Secretariat of Finance (SHCP). In contrast, physical investment — which is focused on building, conserving
Read moreGovernment Triples Subsidy of AIFA, Despite Limited Daily Flights
By MARK LORENZANA The federal government of Mexico has tripled the amount planned to subsidize the operations of the new Felipe Ángeles International Airport (AIFA) this year, with the average cost per passenger exceeding 4,700 pesos. Originally planned at 419.4 million pesos, the annual subsidy for the operation of the AIFA has risen to 1.3 billion pesos, an increase of
Read moreMexico Anticipated to Lose 2 Percent GDP Over Gas Subsidies
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 moreMexico’s Fiscal Deficit Reaches Six-Year High
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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