Approved the report of the 2024 Federal Budget
The President of Mexico will have access to a substantial amount of resources in his final year, with the approval of the report of the 2024 Federal Budget.
With reallocations totaling 46,266 million pesos, the Budget and Public Account Committee of the Chamber of Deputies approved report of the 2024 Federal Budget (PEF).
After more than five hours of discussion, with 32 votes in favor, 24 against, and no abstentions, the Budget Committee approved the report, which was then referred to the plenary session.
It is expected to begin general discussion next Monday, followed by a detailed discussion.
Despite opposition complaints, the agreement was that any proposed amendments should be presented during the plenary discussion to expedite the debate and voting.
Margarita Zavala, a PAN deputy, criticized the budget reductions in the report regarding autonomous sectors, stating that the budget only benefits the government and not the people.
Report of the 2024 Federal Budget: Approved
The reallocations in the public expenditure for the following year will amount to 46,266 million pesos, primarily reducing funding for autonomous sectors.
This redirection will provide additional resources to Petróleos Mexicanos (Pemex), the Ministry of Public Education (SEP), and the Ministry of Infrastructure, Communications, and Transport.
In total, the Federal Budget envisions an expenditure of 9.02 trillion pesos for the coming year, a historic spending level for the final year of Andrés Manuel López Obrador’s government.
To achieve this budget, the Mexican government plans to incur an indebtedness of nearly 2 trillion pesos.
During the plenary discussion, it is expected that amendments will be proposed to support Guerrero, whose coastlines were devastated last week by Hurricane Otis.
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