According to the Treasury, the performance compared to the previous year is mainly due to the increase in the price of crude oil and natural gas, as well as higher contributions from the Federal government to Pemex.
Taxes make up shortfalls
The income obtained from the collection of taxes such as VAT, IEPS and ISR totaled 2.702 trillion pesos (bdp), an amount 12.708 million pesos above the program and 2.5% higher than what was observed in 2020.
The results are the greater subsidy to gasoline due to the increase in international prices of crude oil.
VAT collection was above the programmed amount at 116,906 million pesos, reaching 860,274 million pesos and exhibiting a real annual variation of 13.5% compared to what was registered in January-September of last year.
Expense higher than programmed
As of the third quarter of 2021, the net expense paid was 4,705 bdp, an amount higher than that registered in the same period of the previous year by 5.6% in real terms and higher than the one foreseen in the program by 23,999 bdp.
Compared to the January-September 2020 period, primary spending was 7.4% higher in real terms; total net expense excluding financial investment, pensions, participations and financial cost increased 2.4% in real terms; and structural current spending was lower by 0.4% in real terms.9
The higher expenditures with respect to the program are due to a higher programmable expense, which was above the amount foreseen in the program at 102,244 million pesos.
Within it, the expenditures of the Centralized Public Administration and of the productive companies of the State (Pemex and CFE) stand out, which were higher by 59, 304 million pesos and 57.202 million pesos, respectively, while the autonomous entities and the entities under control Direct budget (IMSS and ISSSTE) recorded lower spending of 17,800 million pesos and 5,756 million pesos, respectively.