Mexico City (Charlene Dominguez) – Financial savings in Mexico fell 2.7 percent real annually as of June 2022, with a balance of 26.9 billion pesos. With this, the equivalence of financial savings with respect to GDP fell from 97.4 percent in June 2021 to 92 percent by June 2022, figures from the National Banking and Securities Commission (CNBV).
The financial savings is the balance of the deposits of financial intermediaries authorized to receive resources from the publicthe holding of fixed-income securities and fiduciary stock certificates in the hands of natural and legal persons and resources from abroad that are intermediated through entities of the Mexican financial system.
For the Mexican economy, this financial saving is relevant because they are resources that have the capacity to become productive investment by the financial intermediation of the banks, explained Gabriela SillerDirector of Economic and Financial Analysis of Grupo Financiero BASE.
“The higher the savings rate and the higher the fixed investment, the higher the long-term growth is generated, this happens for emerging economies such as Mexico,” said the specialist.
The internal financial savingswhich is the aggregate of deposits from intermediaries and holdings of fixed-income securities and fiduciary stock certificates, reached 69.2 percent of GDP and had a real annual increase of 0.7 percent in the second quarter of 2022.
The capture of intermediaries was equivalent to 34.6 percent of GDP, with an amount of 10.1 billion pesos and a real annual variation of 3.5 percent in June 2022.
The holding of fixed income securities and fiduciary stock certificates recorded a balance of 10.1 trillion pesos and a real annual reduction of 1.9 percent between June 2021 and June 2022, reaching 34.6 percent of GDP.
On the other hand, the foreign savings it had a real annual decrease of 11.6 percent as of the second quarter of 2022 and its balance was 6.7 trillion pesos, which was equivalent to 22.8 percent of GDP.
The CNBV highlighted that the holding of fixed-income securities in the hands of non-residents (both issued in Mexico and placed abroad) reached 5 trillion pesos and was equivalent to 17.1 percent of GDP.
Of these securities, the fixed income instruments issued in Mexico reached 5.6 percent of GDP and had a real variation of 24 percent between June 2021 and the same month of 2022.
In this regard, the balance of instruments issued by the public sector in Mexico in the hands of non-residents, which reached 5.1 percent of GDP, had a real annual variation of 24.7 percent, while the balance of securities placed by the private sector in the country, equivalent to 0.4 percent of GDP, decreased 13.5 percent in that period.
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