Public budget

Public budget latest publications

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