Between January and November 2024, the financial result of the Central Government presented a deficit balance of 145.1 billion pesos, equivalent to 1.9% of the gross domestic product (GDP). Compared to the previous year, the fiscal deficit It remained constant in terms of GDP (1.9%), although the absolute amount was higher than what was recorded in 2023 (129.7 billion).
The information was highlighted by the Ministry of EconomyPlanning and Development (Mepyd) in its most recent report“Macroeconomic Situation – November 2024”, which analyzes the performance of the State’s collection entities and the volumes of income and bills of the Central Government.
The concept of fiscal deficit either budgetary refers to the negative result of the State’s finances, when the bills exceed the incomewhich forces authorities to seek financing to cover needs such as public investment or debt payment.
In this context, the Ministry observed that the primary balance as of the penultimate month of the year was 96,500 million pesos, which represents a surplus (surplus resources) of 1.3% of GDP. This balance does not include the payment of interests of the debt.
According to him reportthe income of the Central Government in the aforementioned period were 1,117,456 million pesos, while the bills They amounted to 1,262,567 million, generating an accumulated difference of 145,111 million pesos.
What was it spent on?
Of the total resources that the Government allocated to bills33.3%, equivalent to more than 420,703.7 million pesos, was used in bills consumption, which include the purchase of goods and services, as well as the payment of wages to public employees. This item was 15.2% higher than what was spent in 2023.
The second highest spending item was current transferswhich consist of internal transactions between government entities. These aim to supply priority areas to meet the objectives of social and economic policies. They totaled 360,620.4 million pesos.
The third item with the highest expense corresponded to the payment of interests of the public debtto which the Government allocated more than 247,236.7 million pesos between January and November.
