Ramírez de la O explained that there is a ‘cushion’ for extra oil income and part of this income is from Pemex and another part goes to the Oil Fund.
“We have almost like a mirror, the correlation between gasoline and crude oil is 99% and we are naturally hedged,” he added.
The Secretary of the Treasury stressed that it will be in the evening edition of the Official Gazette of the Federation (DOF) this Friday when the stimuli for gasoline are published.
When questioned about whether he will change his prospects for economic growth for Mexico, as Banxico has done, the official said that he will release his forecasts until April, when the pre-criteria are announced.
“The Treasury has its program on the calendar to make updates to growth estimates, ours are not forecasts; they are estimates for planting our budget, we are not making forecasts to compete among the 20 or 30 best rate forecasters, we need a rate to plan our budget in reasonable terms of probability of compliance,” said Ramírez de la O.