The Government Outlines Debt as Its Oxygen Balloon for 2024
Tax attorney Mario Barrera commented for an article in El País about Mexico's budget for 2024 and its implications for taxpayers. The Proposed 2024 Economic Budget, reciently approved, forecasts a record debt of 1.9 billion pesos. Mr. Barrera indicated that the country's government will have to trim spending or raise taxes to increase its income to manage the debt.
"A tax reform in the next six years is inevitable," he highlighted. "Based on the current taxes, I do not see that there is sufficient (money) with the current collections scheme to be able to pay off that debt, which means a rise in taxes is highly probable."
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