LatinNews Daily - 01 October 2020

* Mexico’s finance ministry (SHCP) has published public finance and debt figures for the January-August period, which indicate a primary fiscal surplus of M$155.3bn (US$7.1bn). In a statement, the SHCP noted that due to its “responsible management of public resources”, it has been able to simultaneously respond to the impact of the coronavirus (Covid-19) pandemic and maintain “healthy” public finances. Over the first seven months of 2020, revenues equalled those taken over the same period last year. Non-oil income rose by 4.3% year-on-year in real terms, to M$3.2trn, and federal government revenues increased by 6% in real terms, to M$2.6trn. Meanwhile, “as a result of the tax-collection efficiency measures implemented”, federal tax revenues rose by 1.6% year-on-year in real terms. The SHCP also underscored that it hasn’t solicited any additional debt beyond that authorised by congress, and that its debt portfolio is in “robust” shape - net public sector debt stands at M$12.2trn, and net federal debt at M$9.2trn, of which 74% is denominated in national currency.

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