translated from Spanish: SHCP handed over 13 thousand mdp to state governments reported deputy, Ignacio Campos Equihua

home Michoacán SHCP handed over 13 thousand mdp to state governments reported deputy, Ignacio Campos Equihua

Mexico City.- During the first days of August, the Ministry of Finance and Public Credit (SHCP) handed over to state governments about 13 billion pesos of the Income Stabilization Fund to Federal Entities (EFCS), which add to the 20 billion delivered during the month of July; federal deputy Ignacio Campos Equihua reported.
In line with the current situation, commented the secretary of the Committee on Budget and Public Account of the Chamber of Deputies, the Government of Mexico made the determination to support the federal entities by making various changes to the rules of the EFEF, so that states could receive these resources on a monthly and non-quarterly basis, as initially contemplated by the Ministry of Finance.
“In compliance with the Federal Law on Budget and Responsibility and its Regulations, and the amendment made to the Rules of Operation of the Stabilization Fund, the Ministry of Finance and Public Credit transferred during the first days of August, the resources corresponding to the July compensation of the EFF to the 32 federal entities of the country.”
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Finally, Campos Equihua reiterated that, with the recent transfer of these resources, the states and Mexico City collectively received about 13 billion pesos during the first days of August, based on the distribution formulas that are their legally entitled to them; “of which, 20 percent is for municipalities, which allows for better planning and distribution of these resources.”

Original source in Spanish