Mexico 2027 Economic Package submitted to Congress

Mexico's Secretary of Finance, Edgar Amador Zamora, has submitted the 2027 Economic Package to Congress. The proposal includes macroeconomic forecasts, the Revenue Law, the Expenditure Budget, and the Fiscal Miscellaneous document. The package is described as conservative, projecting economic growth between 1.5% and 2.5% and a fiscal deficit of approximately 3.9% of GDP.

Key areas of focus and contention include:

- Pensions: Expenditure on pensions is projected to reach 2.5 trillion pesos, representing 6.3% of GDP. This would be the highest annual spending on pensions in the country's history.

- Debt and Investment: Coparmex warned that debt and pension payments could absorb 4.05 trillion pesos, potentially limiting fiscal space for infrastructure. Meanwhile, the PAN parliamentary group criticized the budget as “inercial,” citing high debt levels and a proposed 70% reduction in energy sector investment.

- Revenue: The government aims to increase tax collection through efficiency and combating evasion rather than creating new taxes. Oil revenue expectations have decreased, with a projected barrel price of 61.8 USD.