“Actually said fund does not have sufficient resources to mitigate new economic crises that could be presented”, highlighted the CIEP.
He FEIEFwith him Budgetary Revenue Stabilization Fund (FEIP) were created for generate public savings that can be used to face decreases in collection and toast relative stability to public financesUntil the end of 2018, it had vast resources that were generated by surplus oil revenues.
However, the FEIEF was used of 2019 to 2021 for make up for the lower collection during the pandemic. However, despite GDP growth and greater economic activity after the health crisis, the fund’s resources have not been reconstituted. In 2020, the fund was strengthened with additional amounts through a debt scheme, so the resources that are currently transferred to it are intended to pay said financing, the study center reported.
“If the current trend continues, it would possibly be necessary to resort to a new debt acquisition to increase FEIEF resources, but given the higher interest rates, the financial cost of the same would be put under pressure,” he warned.
Finally, the CIEP reports that the use of FEIEF resources has been effective in that it covered the lack of resources during the crisis. However, it is important to strengthen the fund by reviewing its sources of income and efficiency in the destination of its resources, as well as transparency in its strengthening.