Between January and July, tax revenues rose 6% in real terms compared to the same period last year, totaling 2.647 trillion pesos. However, that figure is 104.420 million pesos (mdp) less than what was contemplated in the 2023 budget.
In its monthly public finance report statement, the Treasury highlights the real increases of 3.6% and 305% in ISR and IEPS collections respectively, in relation to 2022, driven by increases in wages, employment and higher profits of companies, as well as lower gasoline subsidies.
But despite these increases, if they are compared with what the Treasury expected to obtain at the end of July, the IEPS results in a shortfall of 30,781 million pesos and only the ISR is the one with an extra 50,162 million pesos.
For VAT, the shortfall compared to what was forecast by the Treasury is 119,038 million pesos.
The agency in charge of Rogelio Ramírez de la O added that the strength of the Mexican peso and the drop in international oil prices caused oil revenues to have registered a 22.5% drop in the first seven months of the year compared to what was forecast, by adding 626,962 million pesos.
“At the end of July, the net debt of the federal government was 11,959 trillion pesos, of which 83.7% is internal debt. In addition, 76.8% of government securities are at a fixed and long-term rate”, detailed the Treasury.