Sheinbaum says Mexico’s economy could grow faster in 2027
Mexican President Claudia Sheinbaum said that the country’s economy could grow faster in 2027 than the Finance Ministry’s forecast range of 1.5–2.5%. She said this at a morning press conference the day after the government submitted its 2027 budget proposal to the federal Congress, Mexico News Daily reports.
Sheinbaum linked the possible acceleration in growth to the expected economic effect of public and public-private investment projects. She also said that the government expects greater stability and certainty in Mexico’s trade relations with the United States and Canada, as well as an increase in private investment.
Budget of 10.5 trillion pesos
Finance Minister Edgar Amador Zamora presented the draft economic package, which provides for public spending of about 10.5 trillion Mexican pesos, or $621 billion. According to him, the document has five areas: economic growth, protection of government priorities, strengthening state revenues, more efficient use of funds, and fiscal discipline.
Among the priorities the proposal is intended to protect, Amador named social programs and public investment. He also announced plans to increase the efficiency of tax collection and continue republican austerity measures.
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No new taxes proposed
Sheinbaum emphasized that the budget proposal does not include new taxes or a sharp increase in fuel prices. Instead, the government plans to combat tax evasion. According to her, there are still people in the country who are required to pay taxes but do not do so.
The proposal also provides for a gradual reduction of the public sector deficit, from 4.1% of GDP this year to 3.9% of GDP in 2027. According to Amador, the government is targeting economic growth of more than 2%.
Sheinbaum added that the budget retains incentives for new investment, including under the government’s Plan Mexico economic initiative.
