State Government responds to entrepreneurial chambers statements regarding Baja California finances

Baja California government is taking responsible decisions regarding debt refinancing as well as continue pushing the Public Private Partnerships (PPPs) which are priority for the State, aiming to leave a healthy financial situation to the next state administration, always seeking for the best conditions, so regarding the statements made by business and entrepreneurial chamber leaders, Gov. Kiko Vega administration said that there have been “work tables” which were agreed to install several weeks ago, and that some of the figures in their analysis are not correct.

Since January of this year some of the requested information was issued, which has been completing according to what was requested, there will, also been meetings which may allow them for a greater understanding and clarity about the decisions that have been made related to the financial situation.

State financial commitments of the State administration is an act of responsibility, which aims to fulfill the Financial Discipline Law and allow a fluent start-up by means of mechanisms such as the Zero Coupon Bonus (BCC in Spanish) which were approved by the Federal government.

Private sector representatives had said that they don´t think the decisions related to the water desalination plants were transparent and contracts were not given to the best proposals to build and operate those plants, but the State Government assures that the operation cost of the company to which the contracts were conceded is the lowest and reiterated Kiko Vega’s administration invitation to dialogue and discuss this and any other subject related to the State wellbeing, growth, development and progress.

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