The head of the Ministry of Finance and Public Credit (SHCP), Rogelio Ramirez de la Oaffirmed this Tuesday that eight out of every 10 pesos of the total net expense, proposed for fiscal year 2023correspond to mandatory expenses.
In his appearance before the Chamber of Deputiesthe federal official referred that the most important expenses are the financial cost, pensions and retirements, participations to states and municipalities, the expense of companies and entities, as well as the expense of the autonomous branches.
Ramírez de la O pointed out that the 2023 Budget Project that is presented is balanced, responsible and realistic, underpins the momentum of the country’s economic recovery, under the principles of austerity, efficiency and rationality.
It also provides for operating and non-substantive expenses to be kept at levels that allow the public administration to operate, directing most of the resources to substantive projects for the benefit of the general welfare.
The Secretary of the Treasury pointed out that the objective is to achieve a consensual package that allows the consolidation of the new economic model, whose priority is to address social gaps throughout the country.
“With this exercise, we will lay the foundations for the work of the Government of Mexico for next year and towards the end of the six-year term”, he pointed out.
The official stated that the Ministry of Finance and Public Credit will redouble its efforts to fight corruption, further reducing the spaces for tax evasion and avoidanceso that all people and companies contribute to the treasury, in accordance with the provisions of the law and without any distinction.
“This economic package lays the foundations for planning a responsible, orderly and smooth transition to the next administration,” he told deputies.
“The presented package that includes an ambitious investment component, hand in hand with the strengthening of tax and non-tax revenues, will allow us to make 2024 the year of fiscal consolidation for this national project.”
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We will pay for the macroeconomic strength of our country and our currency, Ramírez de la O added, to the adequate capitalization of the Mexican financial system, and to the construction of liquidity pools that allow public finances to withstand external shocks, as well as provide room for action for the incoming government.
“We are convinced that the continuity of our national project necessarily passes through stability and fiscal discipline,” said the Secretary of the Treasury.
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