The Secretary of Finance and Public Credit announced that the government is aware of the current resource situation and mentioned its commitment to reassure investors regarding the deficit. In his appearance in San Lázaro, he indicated that next Friday the first budget of Claudia Sheinbaum's government will be presented.
Among the savings measures included in this budget is the digitization of public administration, also covering areas of security, which, according to the secretary, provides a great opportunity for improvement in resource use. The importance of maintaining solid public finances to consolidate the Mexican development model was emphasized.
Regarding market concerns about Mexico, the current focus is on the fiscal deficit. It was emphasized that there are still areas in the budget with significant opportunities. Additionally, the elimination of subsidies to state-owned enterprises was anticipated as another contemplated measure.
The Economic Package for 2025 will present changes in budget treatment compared to the previous period, seeking to achieve greater savings through "economies of scale." Despite the pressures from interest rates, it is expected to maintain calm in this aspect and it is estimated that the deficit target of 3.5% will not be reached, likely reaching 4%.
The ratification of the secretary was carried out with 24 votes in favor from Morena and allies, including Movimiento Ciudadano, while nine voted against from PRI and PAN. In response to rumors of his possible departure from the Treasury due to differences in Palacio, the secretary limited himself to stating that it will be the president who must respond to future tax reforms.
