The Secretary of Finance, Rogelio Ramírez de la O, presented the fiscal projections for next year, in line with market expectations. A fiscal deficit of 3.9% is estimated, slightly above the initial target of 3.5%, but considered acceptable by specialists. This forecast aligns with a public debt level of 51.4% of GDP, an inflation rate of 3.5%, and an interest rate of 8%.
The Economic Package for 2025 includes a projected Gross Domestic Product (GDP) growth range of 2 to 4%, a more optimistic figure than the market projections, which have been revised downward. Despite more conservative projections from organizations like the International Monetary Fund and Banco de México, the Treasury is confident in robust growth based on the strength of the labor market and internal dynamics.
Ramírez de la O stated that the Mexican economy shows solidity and is expected to exceed growth expectations this year, thus establishing a favorable base for growth in 2025. Although the projections are more optimistic, the secretary assured that they are based on a realistic and prudent evaluation, also highlighting the positive global context in which Mexico finds itself.
The budget for 2025, the first during Claudia Sheinbaum's administration, focuses on promoting economic growth with social justice, where the state plays an active role in the promotion of well-being. The prioritization of spending on social programs will continue, and an expansion of the railway system is planned for both passenger and cargo transportation. The fiscal projections will be discussed in the coming weeks by lawmakers, including a tax revenue projection of 5.3 trillion pesos and total resources of up to 8 trillion pesos.
