In July, income from family transfers increased 28.6% compared to the same period in 2020, reflecting the recovery of the US economy.
The Center for Public Finance Studies (CEFP) reported that a figure of $4,540 million was recorded in remittances in July of this year, which in Mexico is understood as sending money from the United States to this country.
The transfer average was $390, which is 7,770.25 pesos, which is 13.7% higher than the $343 average for the same month the previous year.
According to this report certified by the federal legislature, the cumulative amount between January and July 2021 amounts to just over $28,187 million, which is 23.5% higher than the same period in 2020, which was 22 thousand 821 million dollars.
“Income from family remittances accumulates five months above the $4 billion threshold, reflecting the recovery of the US economy and the impact of the US recovery plan, which is valid until September 6,” the document said.
With these indicators for July, it is possible that transfers will rise significantly, again, before the end of 2021.