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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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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PULSE NEWS MEXICO Mexican President Andrés Manuel López Obrador (AMLO) on Friday, Aug. 5, announced the his administration would no longer provide financial subsidies to offset the high cost of premium gasoline. In March of this year, after global oil prices skyrocketed as a result of the war in Ukraine, López Obrador ordered the Treasury to provide a nationwide Special
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By ANTONIO GARZA, former U.S. ambassador to Mexico
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By MARK LORENZANA The Mexican Senate, which is currently headed by the leftist National Regeneration Movement (Morena) of President Andrés Manuel López Obrador (AMLO), has not disclosed its expenses for the years 2020 and 2021. Morena has been known to preach austerity and transparency, but in the Senate — where it chairs the Board of Directors, the governing body of the
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By THE PULSE NEWS MEXICO STAFF After thousands of U.S. drivers were crossing into the country to fill up their tanks on Mexican government-subsidized gasoline, the nation’s Treasury Secretariat (Hacienda) on Saturday, April 2, announced that it will suspend gas subsidies along the northern border, effective immediately, at least through Friday, April 8. Two days later, Mexican President Andrés Manuel
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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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By THE PULSE NEWS MEXICO STAFF Keeping President Andrés Manuel López Obrador’s (AMLO) promise on Thursday, March 3, to not raise gasoline prices as global crude oil prices soar will come with a hefty price tag for his administration, experts warned on Friday, March 4. Just last January, the fiscal stimulus granted by the government to gasoline consumers represented a
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By EARL ANTHONY WAYNE, former U.S. Ambassador to Mexico
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By ANTONIO GARZA, former U.S. Ambassador to Mexico
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