More money in each payment or more people benefited? It is not clear so far, however, the Ministry of Finance and Public Credit (SHCP) proposed an increase to the budget for pensions and social supports of the Welfare Secretariat for the year 2025.
The document delivered to the Chamber of Deputies is called 'Pre-Criteria', where it was requested to strengthen the Universal Scholarship for Benito Juárez High School Students, the Young People Writing the Future program, Young People Building the Future and the Pension for the Well-being of the Elderly.
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It is intended that the Benito Juárez Scholarship has an increase in the assigned budget from 39 thousand 366 million pesos to 40 thousand 882 million; Pension for Seniors from 465 thousand 48 million to 482 thousand 953 million and Young People Building the Future from 24 thousand 204 million to 25 thousand 136 million.
Let us remember that Claudia Sheinbaum Pardo, presidential candidate of Morena, PT and Green Party, Together We Follow History coalition, proposed lowering the minimum age to receive the Welfare Pension for adults over 60 years of age, but only for women.
Part of the budget that is requested to be increased should be allocated to said project, in case the Morenista wins the June elections and in the future deputies and senators give the green light for its subsequent publication in the Official Gazette of the Federation (DOF).
In addition to the possible increase in the budget for social supports, in the 2025 Pre-Criteria estimates were made in financial items such as GDP, economic growth, private investments, tax revenues, government investment, among others.
Economic dynamism
The documents reveal a forecast growth of the Gross Domestic Product (GDP) of 2.5%, a figure slightly lower than the estimate of 3% for the year 2024. Likewise, a substantial increase in the federal government's social programs is expected.
The Mexican economy shows signs of sustained dynamism, with a growth projection of between 2.0% and 3.0% by the end of 2024. This progress is based on robust domestic demand and a labor market that continues to recover its momentum after the pandemic.
Private consumption and investment are closing the gap with respect to their pre-pandemic levels, a positive indicator for the continuity of economic development.
Oil projections and budget adjustments
Faced with a slowdown in global oil demand, particularly in key markets such as China, the SHCP projects a reduction in demand and, therefore, in Mexico's oil revenues.
The average price of a barrel of oil is expected to decrease, adjusting to the reality of the global market and the projections established by Mexican legislation.
Optimism in tax revenues
Despite the adjustments in the energy sector, the SHCP maintains an optimistic approach towards budget revenues for 2025, expecting an increase thanks to collection efficiency and greater economic activity.
Tax and non-tax revenues are projected to grow, thus supporting the government's ability to finance its public programs and policies.
Reconstruction and tourism: The Acapulco case
The federal government does not neglect infrastructure, paying special attention to the reconstruction of Acapulco after the devastating passage of Hurricane 'Otis'. The SHCP estimates that by 2025, the reconstruction will have been completed, prompting Acapulco to regain its place as one of the main tourist destinations in Mexico.
This, in turn, will promote the economic development not only of Guerrero but also of surrounding regions, benefiting sectors such as construction and tourism.
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