According to the AIFA’s own internal end-of-year financial statements, 90 cents out of every peso that the terminal has reported as “income” between its inauguration on March 21, 2022, and Dec. 31 of last year were, in fact, government subsidies
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Despite a major investment by the Treasury in August to “repair access issues,” the platform has delivered only partial service over the last six months, with extensive downtime
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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
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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,
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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,
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By KELIN DILLON On Wednesday, Sept. 7, Mexico’s Third District Judge in Administrative Matters of Mexico City, Yadira Medina Alcántara, enacted a nationwide amparo (legal injunction) to restore the country’s Full-Time Schools program (ETC), which was controversially ended in anticipation of the implementing the National Regeneration Movement (Morena) led government’s The School is Ours (LEEN) initiative by the end of
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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
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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
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By MARK LORENZANA Anticorruption and transparency groups, business and political organizations, journalists and concerned individuals in Mexico have all called on the government of Mexican President Andrés Manuel López Obrador (AMLO) to restore the public-information system CompraNet, which has been “temporarily suspended” since Friday, July 15. CompraNet is an information system in Mexico through which citizens can openly search about
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By MARK LORENZANA Since Mexican President Andrés Manuel López Obrador took office nearly four years ago, the Mexican Armed Forces have not only increased their presence on the streets, but have also embarked on a new mission: to become successful entrepreneurs. On April 13 of this year, Mexico’s Secretariat of Finance and Public Credit (SHCP) announced the creation of a
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