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Cofece would have a 6.7% increase in its budget

The Federal Economic Competition Commission (Cofece) of Mexico would have a 6.7% increase in its budget for 2023 in real terms and at annual rate, if the budget proposed by the Ministry of Finance is approved.

With this, Cofece’s budget would amount to 689 million 984,335 pesos for next year.

According to the 2023 Federal Expenditure Budget Bill, Cofece’s performance is evaluated by means of internal and external elements, which allow it to impartially measure the fulfillment of its institutional objectives.

With this logic, the Ministry of Finance cited the following considerations.

At the international level, every year the magazine Global Competition Review (GCR), specialized in competition matters, carries out an evaluation of the best antitrust compliance programs worldwide, in which it rates the quality of the work of the competition authorities.

The results of this evaluation are published in the Rating Enforcement, in which, for the fourth consecutive time, Cofece obtained a rating of 3.5 stars out of a possible maximum of five.

In a span of eight years, Cofece has improved its rating in this ranking by going from 2.5 stars (sufficient) in 2013 to 3.5 stars (good) as of 2018, a result it has maintained for the last four years.

The above, places it among the 22 best competition authorities in the world, on par with those of Austria, Canada, Chile, Spain, Greece, New Zealand, Portugal, Russia, Singapore and Turkey, and higher than those of Belgium, Norway, the Netherlands and Switzerland, among others.

Cofece

The Commission also has an Institutional Performance Evaluation System (SEDI) that measures the degree of progress in achieving its institutional goals and objectives.

This system is composed of strategic and management indicators aligned with institutional objectives that, as a whole, make up the Competition Policy Performance Index.

The SEDI allows Cofece to carry out an objective assessment and quantification of the exercise of its functions.

In 2021, it concluded its second long-term strategic planning cycle framed in its 2018-2021 Strategic Plan and, consequently, its 2018-2021 SEDI. Cofece closed that period with results above 97% compliance for all years.

 

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