LatinNews Daily - 1 June 2020

* Mexico’s finance ministry has released results for public sector finances between January and April this year, which show that expected revenue was lower than expected, with the government collecting overall M$1.87tn (US$84.9bn). This is M$19.7bn less than initially projected, although it is a 1.5% increase on total revenue in the same period in 2019. The government attributes the lower than expected revenue to the decrease in global oil prices, while noting that the isolation measures taken to limit the spread of coronavirus (Covid-19) began to impact tax revenue in April 2020, but that over the first four months of the year tax revenue increased by 5.6% in real terms on January-April 2019 as a result of “actions taken to reduce tax evasion”. Total budget costs increased by an annual 7% in January-April this year, while central government spending was M$17.4bn higher than projected, a 13.1% increase on 2019 due to budget increases for the social welfare ministry, education ministry and the health ministry, in order respond to the public health emergency.

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