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September 8, 2021

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.

September 11, 2020

Mexico | The 2021 Economic Package: Opportunity for countercyclical policy

This week the Ministry of Finance released the fiscal package that he presented to Congress for next year. It is the third presented by this administration. I think it is positive that, after three fiscal packages, it can be confirmed that it is a government committed to maintaining fiscal balances.

September 9, 2019

Mexico | 2020 Economic Package reinforces signals of fiscal discipline

Economic package reinforces signals of fiscal discipline by establishing a primary surplus target at a weak period of the business cycle.Consequently, it is positive that the federal government has proposed a primary surplus of 0.7% of GDP instead of the 1.3% that it had suggested in Pre-Criteria of economic policy for 2020

November 23, 2018

Mexico | Five social & labour programmes from the 2nd consultation would cost 0.85% of GDP

Although the consultation indicates that the new refinery in Dos Bocas will cost 50 billion pesos (0.22% of GDP), we consider that it refers only to the first stage, since the incoming Secretary of Energy, Rocío Nahle, estimated that it would cost 160 billion pesos (0.69% of GDP) and would be completed in 3 years.

August 29, 2014

Public-sector budget to be 12% higher next year in Peru: additional social spending announ…

Today we expect Brazil GDP for 2Q14 to remain at 0.1% QoQ although with a downward bias. We are also expecting activity data from Chile where a weak print would not be a surprise