translated from Spanish: Request Michoacan Executive, debt by 4 mmdp

Naomi Carmona
Morelia, Michoacán.- The governor of Michoacán, Silvano Aureoles Conejo, made clear the request for debt to the Local Congress, for a total amount of 4.90 million pesos to be paid over a period of 20 years, as well as a restructuring of 17 thousand 246 million 845 thousand 100 weights, this within the Income Act 2020.
According to yesterday’s document to the LXXIV Legislature, the requested funding is aimed at productive public investments, and the construction of reserve funds, as well as various related operations and acts; more specifically, the debt contracted is for:
 Educational and research infrastructure (50 million 998 thousand pesos)
 Sports, recreational, tourist and cultural spaces (249 million 300 thousand pesos)
 Urban roads (651 million 957 thousand 582 pesos)
 Squares, parks, gardens and open spaces (29 million 250 thousand pesos)
 Buildings for the collection, exchange and distribution of goods and service (3 million)
 Buildings, sites and historical and artistic monuments (801 million 280 thousand 59 pesos)
 Social assistance centres (3 million 60 thousand pesos)
 Roads, highways and airborne (1 thousand 95 million 255 thousand 827 pesos)
 Other works of urbanization (18 million 340 thousand pesos)
 Facilities and equipment of buildings for public safety, police and transit (977 million 558 thousand 530 pesos)
Facilities and equipment in streets, parks and gardens,120 million)
According to the explanatory memorandum, the State is at a level of sustainable indebtedness, so it has the ability to contract debt for up to 15% of freely available income. In addition, it mentions that the source of payment of the requested financing, will be through the use of up to 18% of the federal shares that correspond to the State of the General Fund of Shares, excluding the percentage of municipalities.
On the other hand, the restructuring is focused on the debt maintained by Michoacán since 2007, requested in the long term and reaching an amount of 17 thousand 246 million 845 thousand 100 pesos.

Original source in Spanish