The Ministry of Finance and Public Credit (SHCP) reported that for next year it will allocate 16.5 percent of the total budget for the payment of pensions, which will mean an outlay of 1 billion 172 thousand 324.9 million pesos.
In the Draft Decree of Budget of Expenditures of the Federation for the Fiscal Year of 2022, the Treasury reported that, for the payment of pensions and retirements of workers, the mandatory expenditure in that item will also be 10 percent higher than what is allocated in 2021, which was 1 trillion 64 thousand 88.5 million pesos.
This figure includes the payment of pensions for workers in the entire public administration, as well as those of the IMSS, ISSSTE, Pemex and the Federal Electricity Commission (CFE).
In this regard, Héctor Villarreal, director of the Budgetary Economic Research Center (CIEP), said that it had already been foreseen that the payment of pensions would continue to pressure the federal budget, which already represents an expenditure of 5.2 percent of the Gross Domestic Product ( GDP).
“The government is not quite aware of this. Pensions continue to eat up a lot of fiscal space… spending on pensions (tax collection, plus social security contributions) means that one in three prisoners of the taxes and fees we pay is used for pensions and this will continue to increase, “he warned.
In the case of pensions for the welfare of the elderly, one of the most outstanding projects of this administration, the Treasury reported that, for next year, it has budgeted to pay just over 238 thousand 014 million pesos, which will mean an increase of 76 percent, compared to what was approved in 2021, when a budget of more than 135 thousand 065 million pesos was allocated.