Mexico sees up to 2.5% economic growth in 2027, narrower deficit in 2027 budget draft
The draft also forecasts a 3.9% deficit and 3.0% inflation, while cutting federal debt support for Pemex to 81.1 billion pesos.
- On Tuesday, Finance Minister Edgar Amador Zamora presented President Claudia Sheinbaum's proposed 2027 budget to Congress, projecting economic growth between 1.5% and 2.5% for the coming year.
- The draft proposal projects the broader public sector deficit narrowing to 3.9% of GDP, while total public debt measured by SHRFSP is seen reaching 55.0% of GDP in 2027, up from 54.0% estimated for year-end 2026.
- State oil firm Pemex is slated to receive $4.80 billion from the federal government to pay down debt in 2027, while the government earmarked 255.5 billion pesos for the company's priority investment projects.
- Headline inflation is projected to finish 2027 at 3.0%, in line with the Bank of Mexico's official target, with growth supported by solid domestic demand, higher household incomes, and the 'Plan Mexico' initiative.
- The budget document revises 2026 growth estimates downward to 1.0% to 2.0%, down from an earlier projection of 1.8% to 2.8%, reflecting updated economic conditions as the administration shifts focus to future infrastructure development.
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Sheinbaum optimistic about Mexico's 2027 growth prospects: Wednesday's mañanera recapped
The delayed economic impact of public and public-private investment projects carried out this year could boost Mexico's growth next year beyond the anticipated 1.5%-2.5% range, according to President Sheinbaum.
The Ministry of Finance and Public Credit lowered its growth forecast for this year and next. The head of the agency, Édgar Amador Zamora, reported that the country's economy is now expected to grow between 1 and 2 percent in 2026 and between 1.5 and 2.5 percent in 2027.
Finance expects Mexico’s economy to grow between 1.5 and 2.5% in 2027. The government also estimates a fiscal deficit of 3.9% of GDP.
The budget proposed this Tuesday by the executive previews a growth of GDP for next year in a range between 1.5% and 2.5%
The document was submitted to the Chamber of Deputies and the Senate of the Republic for appropriate analysis.
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