2022 Economic Package Unveiled, Targets Economic RecoveryBy Emilio Aristegui | Tue, 09/14/2021 - 11:48
The Ministry of Finance and Public Credit (SHCP) published the new economic package for 2022, seeking to impulse Mexico’s economic recovery while balancing responsible spending with support for social causes.
Rogelio Ramírez de la O, Head of SCHP, indicated in August the expectations for the package, as reported by MBN. “The fiscal package is designed to keep the public debt stabilized and to maintain fiscal prudence. On September 8, we will present a balanced economic package between income and expenditure, (which will be) responsible, realistic. Maintaining a balanced public debt has been the main objective of the package.”
The recently introduced package does not prioritize a single objective, but three. “It is designed under three pillars: 1. Strengthen support for the social welfare of the population. 2. Support regional projects that trigger investment, social development and wellbeing. 3. Favor the stability and soundness of public finances.” The focus on three different aspects allows the plan to be more versatile as Mexico seeks to tackle several economic liabilities while developing new projects to improve the well-being of the population.
The package includes a new system for taxpayers, according to SHCP. “The Federal Income Law Initiative includes the new Trust Regime, which is a series of measures that seek to simplify the payment of taxes, especially among small taxpayers.” This new set of norms will allow taxpayers to go through easier, simpler processes.
The economic package also seeks to shorten Mexico major socioeconomic gap. “The economic package 2022 seeks to address the inequalities accentuated by the COVID-19 crisis and contribute to inclusive economic and social development, as well as favorable climate for investment.” The economic package has well established goals, highlighting the importance of fighting the economic crisis while maintaining a stable economy.