2024-05-13 20:33:37
During the first three months of 2024, the federal public debt reached 50.2% of the Gross domestic productwarned Gabriela Siller Pagazadirector of financial analysis of the Basic Bank.
At the beginning of the year, Mexico has taken on debt, which in other periods was required for an entire year, which means that wasteful use of these resources is being made.
resources.
During the twelve months of 2023, the percentage of GDP of the federal public debt was 46.8%, but so far in 2024 (January, February and April) it has already exceeded 50.2%. Siller, who is director of the Business School of the Tec de Monterreycommented on the need to insist that they are using greater debt at times of high interest rates, which can mean that more resources from public finances are being used and then it becomes like a vicious circle where “the government needs more and more further
money” that will be difficult to pay.
Until the month of March, the Government of Mexico required just over 15 billion pesos to complete the works planned in this six-year period such as the Maya Trendsthe Dos Bocas Refinery ylalternate works at AIFA.
The economist highlighted that this excess spending can leave the new government with its hands tied and without a margin or fiscal space. Government that would be starting in a few months in the country and that will even have to seek to reduce the debt.
“There would be no way to carry out major infrastructure works and they will also have the challenge of having to significantly reduce the deficit, which would also imply a greater brake on Mexican economy.
He insisted that during the first years of this administration The debt had not been used and now that they occupy it in excess, it is not reviewed to ensure that it is occupied in an excessive manner.
efficient.
While the Secretariat of Finance and Public Credit (SHCP) reported at the end of April in the Report on the economic situation, public finances and public debt at the first
quarter of 2024, that this administration made use of public debt “in a stable manner, reducing it as a percentage of GDP to a sustainable level of 45.5%.
Public debt maintained a sustainable trajectory. The historical balance of requirements stood at 15 billion 434 thousand 161.2 million pesos at the end of the first quarter of the year, an amount equivalent to 45.5% of GDPaccording to Treasury data.
Las tax authority highlighted in its report that at the beginning of February, the S&P agency ratified
the rating of long-term sovereign debt in foreign currency at BBB, with a stable outlook. “In this way, Mexico maintains the investment grade with the eight
rating agencies that evaluate the country’s debt.”
Siller insisted that this expense was planned for the flagship works that they want to put an end to the closure of the administration, but warned that at a time when interest rates
interest rates are high, a bigger hole could be opened for the country’s finances.
The Historical Balance of Financial Requirements of the Public Sector (SHRFSP), the widest margin of debt represented 50.2% as a percentage of GDP in the
start of the last year as president of Andrés Manuel López Obrador.
He Mexican Institute for Competitiveness (Imco) recorded that public revenues
In the quarter they were for 123 billion pesos.
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2024-05-13 20:33:37