The public revenue The budgetary budget registered a historical figure of 2 trillion 057,700 million pesos in the first four months of the year, driven by oil revenues that registered an increase of 64.8% real annual, this due to the fact that the Mexican mixture reached up to 61 dollars per barrel.
“Total public revenues reached a historical maximum of 2 trillion pesos, compared to the same period of January-April (excluding the remaining operations of Banco de México from 2016 and 2017, since these are not generated by collection activity) ”, refers dependency.
In this way, government revenues presented an annual increase of 2.4% in real terms, detailed the monthly public finance report released by the Ministry of Finance and Public Credit (SHCP).
“The increase in oil revenues has to do with the fact that the international price of oil, which has been much higher than the previous year, let us remember that in 2020 it began to fall and was even at zero and that this year the price ”, he commented Adrián García, coordinator of the income and expenses area of the Center for Economic and Budgetary Research (CIEP).
In this sense, the oil revenues of the Federal Government were higher than the amount programmed in 6,500 million pesos to add 271,602 million pesos, considering the reduction in Pemex’s tax burden to strengthen investment, according to SHCP.
“The two trillion pesos is something important, the Secretary of the Treasury in December of each year draws up the calendar of how they are going to obtain the income month by month to comply with what the Federation Income Law (LIF) says, in what as of the end of the year, they had estimated to raise 1 billion 944,000 ”, Adrián García said.
In this regard, José Luis de la Cruz, director of the Institute for Industrial Development and Economic Growth (IDIC), highlighted that the increase in income is attributable to the rise in the price of oil and not to a significant increase in the platform of production of Petróleos Mexicanos.
“So, thanks to this exogenous factor that goes beyond what we can plan, this increase allowed oil revenues to be a factor (that helped) public finances,” he commented in an interview.