Mexico | The 2022 economic package reinforces the commitment to fiscal discipline

The 2022 economic package reinforces the commitment to fiscal discipline. The forecast of higher tax revenue is supported by improved intake practices and streamlining actions with more fiscal oversight for the compliance of tax payments. The federal law of income does not contemplate creating or raising taxes.

Key points

• Key points:
• Even though the Ministry of Finance projects a realistic estimation for crude oil production with an average of 1.83 Mmbd for next year, the GDP growth forecast of 4.1% for 2022 is optimistic in relation to both our 3.0% forecast and the consensus of economic analysts and other institutions. Nevertheless, the aforementioned forecast of 4.1% is in line with the IMF growth estimation
• Resulting from the higher optimism about GDP growth for 2022, the balance of risks for tax revenue is tilted to the downside

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