CIEP Regrets Upbeat 2023 Budget Panorama: ‘No Big Surprises’

Alejandra Macias, Executive Director Center for Economic and Budget Studies (CIEP) spoke about the Economic Package for 2023, which was presented this Thursday to the Chamber of Deputies.

“We see them showing an optimistic outlook,” he said in an interview with Guadalupe Juarez and Sergio Sarmiento on El Heraldo Media Group’s Sergio e Lupita program.

He pointed out that Secretariat of Finance and Public Credit (SHCP) expects macroeconomic variables to return to pre-pandemic levels. However, he assured that this is “hard to believe” due to international conflicts, such as the conflict between Russia and Ukraine. “There are no big surprises,” he said.

The 2023 spending budget is very optimistic, Raul Alvarez del Castillo assured (Photo: Special)

In turn, he decided to increase the budget by Welfare Secretariat, a dependency responsible for providing economic support to the population. “This should be analyzed,” he stressed.

He explained that the problem with this type of spending is that “we don’t have enough revenue to be able to allocate more resources to this policy.”

“The truth is that they should have clear goals and make sure they are met,” she explained when asked if these measures serve to reduce poverty, as the president assured.

The budget is very optimistic

The spending budget for 2023 presented by the Ministry of Finance and Public Credit is very optimistic, as it assumes that the collection and sale of oil will be excessively positive, he assured. Raul Alvarez del Castillodirector of economic research Citybanamex.

He assured that the government expected that growth in the economy is 1.2 and three percentwhich is much higher than the prospects for next year.

This forecast, he commented, is based on the trend of the market moving from other countries to the US, but ruled out that such a high performance could be in the area.

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Source: Heraldo De Mexico


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