Income and expense goals are exceeded

From January to May 2024 he federal government reported Three billion 222 thousand 382.7 million pesos in income budgetaryhigher than programmed by 87 thousand 411.1 million pesos, which represented a increase of 5.4 percent.

These increases in income to public coffers were due to Greater oil revenues were obtainedof 473 thousand 551.9 million pesosand 12.7 percent increaseas well as for higher tax collectionwhich reached 2 billion 132 thousand 374.8 million pesoshigher than planned by 5,513 million pesos.

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In it Public Finance Reportit was explained that the rise in oil revenuesfavored by the rise in the price of Mexican export mixIn May alone, these registered an annual real growth of 46.6 percent.

With respect to tax revenueshe report from the Ministry of Finance highlights that a annual real increase of 5.9% in the accumulated to May, tying 12 years of consecutive growth when considering the first five months of the year.

This occurred in the context of the good performance of private consumption during the period, therefore, the collection of VAT grew 3.9% with compared to January-May 2023, in real terms.

Meanwhile, the Income tax collection decreased by 0.9% compared to what was collected between January and May of the previous year; However, only in the month of May, a real annual increase of 2.4 percent was observed. Meanwhile, from January to May Income from IEPS was 62.6% higher annual real, driven by the performance of the fuel component, which represented 2.5 times the level observed in the same period of 2023. For its part, The non-fuel component grew 4.4% in real terms annually.

INCREASING EXPENDITURES

Thanks to this income he federal government could Opening the checkbook in the middle of the election campaign periodbecause the spent total public sector rose to 3 trillion 779 thousand 777 million pesos from January to Mayan increase of 17.3 percent.

The data indicate that An annual real increase of 21.3% was observed in spending intended to provide goods and services to the population.

On the one hand, the social development spending achieved an annual real growth of 13.9%, the largest increase since records began for the period from January to May.

Inside, there are notable increases in the following items: health, education and social protection of 25.8, 14.3 and 12.8% real annual, respectively.

Meanwhile, the economic development spending increased by 51.1% in real terms compared to the cumulative total between January and May 2023.

The above was favored by real increases of 43.2 and 137.3% in the areas of fuels and energyas well as in transportation, respectively.

Thus at the end of May, “fiscal aggregates remained aligned with the approved goals,” the Treasury explained in the report.

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