Growth program for 2021 is presented

Amidst the deepest economic recession in modern history, the State Government faces the great challenge of maintaining development and promoting economic reactivation

The Fiscal Package 2021, guarantees solid public finances in Guanajuato with a balanced, responsible, austere and strategic Budget.

Guanajuato/Gto News

Diego Sinhue Rodriguez Vallejo, the Governor of Guanajuato sent the package to the Congress in the hands of the Secretary of Government, Luis Ernesto Ayala Torres, and the Secretary of Finances, Investment and Administration, Hector Salgado Banda.

An aggravated situation

The Secretary of Finances, noted that the complexity and uncertainty of the last years, was aggravated by the arrival of the Covid 19, upon this scenario the Budget 2021 for Guanajuato is a great challenge for public finances.

Salgado also said that for 2021, the IMF estimates that the world economic growth will be of 5.2 per cent, which means that the world economy will only recover from the loss suffered this year; and for Mexico, the IMF is predicting a mere 3.5 per cent growth.

Slow recovery

Also, Salgado said that the IMF estimates that the pace of recovery could be much slower than expected and show important differences among countries after the increase in recent days of contagion and the possibility of new confinements.

Salgado said that even amid the complicated situation, the disciplined handling of the public resources has made it posible to count with enough resources to guarantee the existing programs and projects, and those that help minimize the effects of Covid 19 and go on pushing economic reactivation of the State will be privileged.

A solid State

The Secretary insisted that the Government of Guanajuato has a solid handling of the public resources, which has been recognized by three international agencies: Fitch, Moody’s and Standard and Poor’s, which have granted Guanajuato the highest credit grade to which any State can aspire, and these agencies state in their reports the correct administration practices and the good Government, the positive operative margin, low passives, moderate debt levels and a strong position of liquidity, besides maintaining a balanced fiscal performance.

You can take a look at the document

Salgado invited citizens to check on the Fiscal Package 2021 at http://presupuestoabierto.guanajuato.gob.mx, and added that it is the result of a great effort headed by the Governor of Guanajuato, Diego Sinhue Rodriguez Vallejo.