Friday, September 29, 2023

The Treasury delivered the Economic Package 2024 to the Chamber of Deputies

The head of the Secretariat of Treasury and Public Credit Rogelio Ramírez de la O, delivered to Chamber of Deputies the Economic Package for fiscal year 2024. It emphasizes that, although the collection is expected to be strengthened, no new taxes will be created.

“Due to the revenue policy proposed by the Federal Revenue Law 2024, the strategy will continue to focus on maintaining the strength of collection without increasing taxes or creating new ones.”

Financial Secretary.

The agency reported that the package consists of General Economic Policy Criteria (CGPE), Federal Income Law Initiative (ILIF) and Federal Expenditure Budget Project (PPEF).

“In an environment with macroeconomic stability, healthy public finances and a debt level of 48.8% of GDP, the 2024 Economic Package guarantees a smooth transition for the next administration.”

Financial Secretary.

He added that the Economic Package reflects the goals outlined in the National Development Plan 2019-2024, especially those focused on improving the welfare of the population and reducing inequality between sectors and regions, as well as promoting growth. in the economy.

“The 2024 Economic Package consolidates the foundations of the transformation project initiated by this administration in 2018, by achieving social development spending equal to 12.8% of GDP, an unprecedented level.”

Financial Secretary.

Mexico’s economic development

In its design, global economic trends and national projections are taken into account. The Treasury added that Mexico’s economic growth is estimated to be between 2.5 and 3.5% in 2024, “thanks to a stable labor market, increased levels of consumption and investment, and the active participation of Mexico in global trade.”

New taxes are rejected

In 2024, the collection will reach a historic maximum of 14.4% of GDP, the Treasury reported. “This can be achieved without increasing or creating new taxes, thanks to tax efficiency measures, the fight against evasion and the dynamics of economic activity.”

“Tax revenue is estimated at 14.4% of GDP, the highest figure since records were recorded and which exceeds the level observed in 2018 by 1.7 percentage points. This result will be supported by the dynamics of the ISR and the IEPS , reaching levels of 7.9 and 2.0% of GDP, respectively.”

Financial Secretary.

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