If it decides to maintain this subsidy, the government will have to start making cuts and readjustments to the public budget.
“The problem is that the subsidy can be maintained for some time, and it is not outlined that oil prices are going to fall soon, we are going to have a whole year with pressure, and this is going to put pressure on public finances, as long as the decision to give this subsidy, there will be a need to resort to other types of cuts in spending,” said Mario Correa, president of the National Committee for Economic Studies of the IMEF.
Like the forecasts for the price of oil, the expectations for the economy have changed, they are not the most optimistic, which would also lead the Treasury to make readjustments in the calculation of the factors it considers to design the 2023 economic package, specifically in the economic pre-criteria that are presented in April, explained Alejandro Hernández Bringas, national president of the IMEF.
It should be noted that in the Treasury pre-criteria, which must be delivered in April, expectations for the end of 2022 can also be adjusted.
Correa said that the concepts outside the priority programs of the federal government are the most susceptible to possible cuts, some of which are already seen as full-time schools.
The budgets of autonomous bodies such as the INE and Cofece are also susceptible.
“It is difficult for there to be another way out, the time to make difficult decisions is approaching,” Correa warned.
