Due to these differences, and reviewing the annual closure of state public accounts, the amount of income received by all the federal entities via the FEIEF for 2019 was approximately 29,910.0 million pesos (million pesos), in 2020 it was 70,517.0 million pesos and for 2021 was equal to 9,952.0 million pesos. With what has been said so far, we can conclude that the FEIEF has fulfilled the objective for which it was created, especially in 2020 when economic activities and consumption were limited due to the pandemic. In other words, the FEIEF did manage to give greater certainty to the budgetary exercise of all the states and municipalities of the country in the short term.
Regarding what was observed from January to July 2022 for the RFP, we can say the following: the figures indicate that the collection is 16.5% above the amount registered in the same period of 2021 (in nominal terms) and in relation to the annual RFP approved in the LIF 2022 (3.7 billion pesos -bp-), it has an advance of approximately 58%. In my opinion, the good behavior of tax revenues is the result of the good collection of the Income Tax, which is around 12.2% above what is foreseen in the LIF 2022.
In addition, let us remember that collection has benefited in some way from the subcontracting reform, collection efficiency and the regularization and simplification of procedures for taxpayers. Bearing this in mind, and assuming that this behavior is maintained for the rest of the year, we could expect that for the current fiscal year the FEIEF mechanism will not be activated or that the use of its resources will be minimal.
Now, it is easy to understand that the behavior of the economy is important for the performance of the RFP, given that the economic dynamics is closely related to the taxes collected. Greater economic growth should increase collection and, with it, would increase the possibility of reaching the level of income budgeted and approved by the Congress of the Union annually.
Likewise, let us not forget that variables such as the production of oil products, the price of a barrel of the Mexican export mix (MME) and the peso-dollar exchange rate, positively or negatively affect the income of the federal government and, consequently, the resources which are distributed to the states and municipalities. If these variables behave better than the economic package of the federal government supposes, we should see, on the one hand: 1) better collection and with it more resources for the states and municipalities, and 2) excess income that, according to the law in force, could be partially transferred to the stabilization funds, including the FEIEF.
A growth of the economy of 3.0%, an inflation of 3.2% and a price of the MME around 68.7 dollars, are some of the assumptions that the economic package proposal for 2023 sent on September 8 considers. With this, the federal government expects to obtain budget revenues of 7.1 billion pesos (against what is expected for the end of 2022 of 6.2 bp). This without considering the creation of new taxes or the increase of existing ones. For this reason, the growth in tax collection would be based only on the continuity of the SAT inspection programs (4.6 bp are expected).