The Secretary of the Interior of Mexico, Luisa María Alcaldedefended this Monday the budget project sent on Friday by the Ministry of Finance to Congress, despite the fiscal deficit equivalent to 4.9% of the gross domestic product (GDP) in 2024the largest since 1988.
“The Secretary of the Treasury (Rogelio Ramírez de la O) already presented what the plan is and this plan is a plan responsible for public finances and we see, on the contrary, a project that will help consolidate the projects of the fourth transformation,” said the official during the morning press conference on behalf of the president, Andrés Manuel López Obrador.
The Mayor thus responded to projections that the 2024 Mexico budget will register a fiscal deficit equivalent to 4.9% of GDPcompared to an estimated 3.3% this year.
In the project, The Government of Mexico increased total net spending to 9.02 billion pesos for 2024, which meant real growth of 7.1%, compared to 2023.
Of that budget for next year, marked by the 2024 presidential elections, just over 67.6% will be allocated to spending identified with social development.
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The Secretary of the Interior stated that the budget is directed mainly to have the necessary resources to complete the works started during this administration.
This project includes the amounts necessary to conclude precisely the Mayan Train project, communication and transportation routes, for the Isthmus of Tehuantepec, for the Mexico-Toluca interurban train, the suburban train to Felipe Ángeles Airport,” he stated.
He also explained that the necessary resources for hydraulic works and social programs are being considered.
Wellness programs that are now rights. We are talking not only about the senior citizen program, but also about scholarships for students, Young People Building the Future, Sowing Life, the program for people with disabilities, among others,” the official noted.
Furthermore, he maintained that this is the product of “responsible” management of healthy finances, which has been achieved thanks to two pillars: zero corruption and ending privileges.
These two pillars are what have allowed there to be sufficient funds as in the project that is now presented for development,” he emphasized.
Likewise, he said that this public investment has been made without putting the country into debt.
The Ministry of Finance also forecast last Friday a maximum growth of 3.5% of the gross domestic product (GDP) for 2024.
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