Finance secretary clarifies INEGI’s recession figures
BY MARIO HERNÁNDEZ
The News
MEXICO CITY – Finance Secretary Luis Videgaray said that the Mexican economy is growing, thanks to an increase in exports and increased public spending.
In an interview conducted after a presentation of a summary of revenues, expenditures, and government debt in 2013, Videgaray said the country is not in recession. “On the contrary,”he said, “we are seeing tangible economic growth.”
Videgaray’s statement was partly in response to claims made earlier this week by the National Statistics Institute (INEGI) regarding a possible recession.
“The statistics represented specific sectors of the economy, not an accurate account of overall trends,” he said.
“Definitive figures must be derived from the Gross Domestic Product (GDP), which we hope will clearly show continuous growth,” he added.
Videgaray reported that for 2013, total internal revenue, including financing, amounted to than 4.206 trillion pesos, of which more 3.8 trillion pesos were public sector revenues, representing a 5.5 percent increase from projections made by the 2013 Federal Revenue Act.
He went on to say that taxes and other government levies accounted for 64.3 percent of total revenue, while activity from state-controlled entities such as Pemex, CFE, IMSS and ISSSTE accounted for 26. 3 percent.
Videgaray urged the public to visit the site www.transparenciapresupuestaria.gob.mx, where citizens can see for themselves the exact allocation of public resources.
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