Tag Archives: SHCP

Judge Orders Restoration of Mexico’s Full-Time School Program

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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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Mexican Government Prioritizes Subsidies over Investments

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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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Government Triples Subsidy of AIFA, Despite Limited Daily Flights

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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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CompraNet Website Suspension Opens Door to More Corruption

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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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Sedena Adds Entrepreneurship to Growing List of ‘Duties’

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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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Tren Maya, Suburban Train to Cost 70 Billion Pesos More

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By MARK LORENZANA The federal government of Mexico will spend almost 70 billion pesos more to finish two of its flagship railway projects: the controversial Tren Maya and the extension of the suburban train that will run from Lechería station in the State of Mexico (EdoMéx) to the new Felipe Ángeles International Airport (AIFA). On June 1, Mexico’s Secretariat of

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Mad Scramble to Obtain Tax Certificates Results in Losses

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By MARK LORENZANA On Wednesday, June 8, Mexico’s Tax Administration Service (SAT) announced that it is extending until Jan. 1, 2023, the deadline for employees to submit their Certificate of Fiscal Situation or tax data to their employers, from the original July 1, 2022, deadline. In April of this year, the SAT imposed a new requirement for the issuance of

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Former Banxico Chief to Lead Grupo Bal

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By THE PULSE NEWS MEXICO STAFF Alejandro Díaz de León, the former governor of Mexico’s Central Bank (Banxico) was appointed Thursday, March 24, to be the new corporate director of Grupo Bal, a Mexican private-sector conglomerate that includes Palacio de Hierro, Industrias Peñoles and Fresnillo In a statement signed by Grupo Bal president Alejandro Baillères said that “the extensive, deep and

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Mexico Anticipated to Lose 2 Percent GDP Over Gas Subsidies

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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

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