Mexico – Mexico’s president said public investment in 2025 will be lower than in 2026 and 2027, when several important government projects are underway.
The president detailed that his administration is making “important efforts” to get the 2024 budget on track, and in that context, his predecessor and political ally Andrés Manuel López Obrador mentioned his decision to complete several major infrastructure projects this year since taking office. departure.
Regarding the government’s spending plan for next year, the president said, “The amount of investment will not be as much as in 2026 and 2027, when all the projects will be underway, but the construction will be done.” morning meeting.
This confirms the concerns expressed by the country’s industrialists. Last Monday, Alejandro Malagon, president of the Confederation of Chambers of Industry (Concamin), expressed the industry’s concerns about the government’s goal of reducing the public deficit next year. “We are concerned that it means less public investment in infrastructure,” which is key to triggering private investment.
The president said two weeks ago that Mexico’s budget deficit would be less than $6 at the end of 2024, as spending increases to complete his predecessor’s projects, including a tourist train and an oil refinery in the country’s southeast. It is the largest share of gross domestic product (GDP) in decades.
What’s more, Mr. Sheinbaum has repeatedly stated that the goal is to reduce the percentage to around 3.5% by 2025, but analysts say it will be lowered by next year, despite expectations for fiscal consolidation. says that it is difficult.
The president highlighted the impact that aid allocated over the past year has had on public spending since the impact of Hurricane Otis in the tourist city of Acapulco, with new construction starting next year, including a passenger rail line in the center of Acapulco. I told him. country.
