The public finances of Mexico City already reflect a recovery process, because in the period January-September 2021 total revenues were 6.5% above the estimated, said the Quarterly Progress Report of the Secretariat of Administration and Local Finance.
According to the report, during the first nine months of this year, total revenues totaled 177,653.62 million pesos. Likewise, a positive real variation of 0.9% was registered compared to the same period of 2020.
“The income of the budgetary public sector amounted to 177,869.9 million pesos, 5.8% higher than the goal established for the third quarter of 2021. These resources were made up of 92.1% by income from the government sector and 7.9% by income from the parastatal sector. non-financial ”, referred the document delivered to the local Congress.
Meanwhile, the revenues of the government sector were 4.2% higher than the goal established for the period; These resources were made up of 44.5% for local revenues and 55.5% for federal revenues.
The non-financial parastatal sector obtained its own income of 14,089.9 million pesos, an amount 29.0% higher than the estimated resources for the January-September 2021 period.
Regarding the reasons that have helped this recovery, the agency pointed out that the vaccination campaign and the reactivation of economic sectors have had effects on certain taxes, products and uses, closely linked to production, consumption, employment, income private and investment.
Precisely in the area of local taxes, 48,070.2 million pesos were collected, that is, 2.4% above what was expected for the third quarter of 2021, in real terms.
Among local tax revenues, 34.2% corresponded to the Property, while 43.6% of the total came from the Payroll Tax. For its part, the Vehicle Ownership or Use Tax contributed 8.6% of total tax resources.
Thus, in aggregate terms, an improvement in collection was observed compared to the same period of the previous year.
It should be remembered that in September of this year, the head of the local Ministry of Administration and Finance, Luz Elena González Escobar, announced that from January to August, total income amounted to 161,703.9 million pesos, 7% more than what was projected for the 2021 Revenue Law.
According to the official, this increase meant that the local economic reactivation plan has worked, since with its implementation it was possible to reopen all local sectors.
Expenses
In terms of expenditures, to the third quarter there is an advance of more than 100% of the quarterly programmed expense, 79.4% of the modified annual budget has been exercised and committed, that is, 187,248.8 million pesos.
For the period January-September 2021, the net expenditure of the Government of Mexico City was 10.5% higher, compared to the same period in 2020, that is, 149,160.4 million pesos, ”the report stressed.
The balance of public debt, at the end of the third quarter of 2021, stood at 90,150.6 million pesos.
Regarding this, the secretariat specified that from January to September 2021 two loans were contracted, the first for 2,200.0 million pesos with the Development Bank and the second for 2,296.3 million with BBVA.
Reference-www.eleconomista.com.mx