The federal government plans to leave a cushion of non-budgetary resources for the start of the next administration of 150 billion pesos (MDP), assured the Undersecretary of the Treasury, Gabriel Yorio González.
The federal official confirmed that President Andrés Manuel López Obrador seeks to guarantee a smooth six-year end and not leave the economy “on pins” as was the case before.
Yorio said in Mérida, Yucatán, that the 150 thousand million pesos are in cash in the Treasury of the Federation (Tesofe), which constitute a kind of “liquidity buffers” that can be used.
“What I can tell you is that there are liquidity buffers in the Treasury that are not necessarily linked to the execution of the budget that are generated year after year and that creates an accumulation of cash in hand,” he explained.
It should be remembered that All resources derived from budget revenues are deposited in the Tesofe for purposes of the Federal Expenditure Budget (PEF) to be distributed to each unit and entity of the Federal Public Administration (APF), as well as to the states and municipalities.
The budget that was not exercised on time and that was not corrected by each Secretary of State or entity of the APF, must be returned to Tesofe.
The same way, the resources of the extinguished trusts remain in the Tesofe as long as they are not assigned to the PEF.
As for the current federal government, the country’s savings, housed in the Budget Revenue Stabilization Funds (FEIP) and the Federal Entities (FEIEF), have been reduced by more than 277 billion pesos.
They went from having 323 thousand 39.6 million pesos at the beginning of the administration (December 1, 2018) to 45 thousand 922.2 million pesos in the second quarter of 2022 (June 30, 2022), which represents a reduction of 85.8 percent. hundred.
In recent days, the content of the initiative to reform the Federal Budget and Treasury Responsibility Law to strengthen the FEIP had been advanced.
The initiative that was sent to the Chamber of Deputies, aims to make the rules more flexible so that the stabilization fund can receive other types of resources than oil surpluses.
If approved by Congress, the FEIP could be filled with savings from the financial cost of debt and other financial assets, something that analysts have welcomed.
Get the latest news in your email
Everything you need to know to start your day
Registering implies accepting the Terms and Conditions