The financial discipline law has contributed to a better control of the Public finances premises, for example, after the great growth that occurred from 2006 to 2012, when the debt of the Federative Entities it increased almost three times more, going from 160 billion at the end of 2006, to 435 billion in 2012, and going from 49 percent as a percentage of participations to close to 80 percent. More recently, the annual growth of the debt in 2018, a point where the debt had stabilized, compared to 2020, which was the beginning of the pandemic, the debt went from 601 to 637 billion pesos, this is only six percent additional, for Finally, it should be noted that at the end of 2022, the debt of states and municipalities grew by 14 percent compared to 2018, this growth mainly concentrated in 2020 and 2021, years in which the effect of the pandemic worsened and which has begun to decrease. in 2022, of course FEIEF contributed to this stabilization and to the higher-than-estimated growth of tax revenues in the last three years, with its impact on participations.
In addition, the debt in relation to freely available income of federal origin today corresponds to 64%, a percentage even lower than the 67% that was had in 2009, when it reached 252 billion pesos, of course the mortgage crisis caused falls important in the tax revenues of countries like ours, causing fiscal crises. It was when the FEIEF was promoted for the first time.
For this closing of 2022, the 5 States with the highest amount of debt in the country are CDMX, Nuevo León, Edo. Mex., Chihuahua and Veracruz that currently make up 51% of the total debt of the states.
However, the largest amount of debt is not as representative as its payment capacity and in this sense the law has two indicators that allow us to more adequately measure the indebtedness situation of states and municipalities and their progress.
The first indicator is the relationship between the payment of debt service and freely available income, that is, the participations and own collection, since the higher this indicator is, the more the state’s operating capacity is reduced, by having to spend high percentages to pay debt instead of paying operating expenses that are already limited, in this sense the 5 states with the highest percentage of this indicator in 2022 are: Coahuila 13.1%, Durango 11.1%, Chihuahua 9.6% , Quintana Roo 9.1% and Nuevo León 8.7%, all of them except Durango have substantially improved their indicator with reference to 2016.
The second indicator is the relationship between the Debt and the ILF where Coahuila, Chihuahua, Quintana Roo, Nuevo León and Sonora, in this indicator the higher the percentage, the finance Those that are most committed in this sense are Coahuila 137%, Chihuahua 107%, Quintana Roo 107%, Nuevo León 96% and Sonora 81%, states with the highest percentage, which have improved substantially in relation to the 2016 data.
As can be seen in neither of the two cases is the CDMX, which, although it is the Entity with the highest public debt, this is due to having sufficient own income that allows it to have a greater capacity to indebtedness.
On the other hand, the debt terms leave legacies that become eternal and the administrations in some cases only restructure the problem and increase the term, an exceptional case of the state of Querétaro that managed to eliminate all of its debt before the change of government.
As we have already mentioned, debt is neither good nor bad, it depends a lot on the management that is given to it and the destination and transparency for which it is used.
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