Financial space reduced to 8,600 pesos per person: CIEP

June 22, 2022 | 5:00 pm

The Public Finance Many countries face many challenges, one of which is financial space that they received, which represented a 27.5% decrease from 2018 to 2022, which would translate to 8,633 pesos per capita on a national average, according to the Center for Economic Research and Budget. (CIEP).

This amount represents the resources per person per year to implement the new Public policy And in the division by entity there is a large gap; For example, fiscal space in the format Chiapas It is 1,833 pesos, while in Colima It is 13876 pesos.

Fiscal space is the available budget that countries must provide for goods and services, address current conditions and create new policies

Alberto Perez, a researcher with the CIEP, said at a conference.

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To find the financial space, a file must be CIEP He subtracted inevitable expenses such as debts, transfers to municipalities, pensions, and resources allocated by the union from the total income of the states.

If we had more financial space, one of the destinations would be to tackle situations like Natural disasters or focus on safety and health, education and infrastructure.

How worrying about 8600 pesos? With that, we’re going to have to cover part education, part health, security issues, pensions and that space is getting smaller and smaller.

CIEP Director, Alejandra Macias, identified

How to increase the fiscal space?

Among the proposals for a larger financial space, tax collection like a contract or predator But everything does not lie in the income, but in the efficiency of the resources they have and their valuation in the future if remittances can be increased.

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The solution is not to scatter more resources from the Federation to the States, because that will increase their dependence on these resources, moreover, we do not know what they are spending on them.

Macias added.

in case if Possession collection And if implemented in all states, the collection would be 74,000 million pesos in addition to those who already received this payment.

Currently, this tax is only collected by Mexico City, Colima, State of Mexico, Guanajuato, Guerrero, Puebla, Queretaro, Tlaxcala, Veracruz and Zacatecas.

Whereas for properties, managed by municipalities, there should be updates on the Land Registry in order to better collect this tax.

They can also apply green taxes collected in: Baja California, Coahuila, State of Mexico, Hidalgo, Nuevo Leon, Oaxaca, Quintana Roo, Yucatan and Zacatecas.

These are actions that can increase revenue, although increasing fiscal space is not only about collecting more or taxing more, but also understanding how we spend

Macias said.

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