Mexico’s finances are healthy, says Claudia Sheinbaum

MEXICO CITY (El Universal).— Claudia Sheinbaum, virtual president-elect, assured that social programs, one of the pillars of the outgoing government and with a promise of continuity for her six-year term, will not have problems because the “country’s finances are healthy.”

After meeting with the current Secretary of Finance and Public Credit (SHCP), Rogelio Ramírez de la O, who will remain in the same position for the period (2024-2030), Claudia said that work on planning the 2025 budget has begun.

“I can tell you very clearly that the finances are healthy. The federal government is doing well, it will close well,” said the future president of Mexico.

He also said that the meeting included discussions on Petróleos Mexicanos (Pemex), the Federal Electricity Commission (CFE), and the budget for next year, for which “a 3% deficit is expected.”

“It is something that any government accepts, nor are we planning any significant indebtedness,” said Claudia.

The future Mexican president, who will assume the presidency on October 1, pointed out that around 300 billion pesos (about 16.5 billion dollars) are being allocated for the train, water and social program projects that she is currently (and new) planning for her term.

“That is to say, it is the bare minimum that would be required and there is enough room in the budget to be able to reorient it,” he said.

Stable budget

It was stated that there are “just over 50,000 million pesos (2,750 million dollars) of new social programs” that his government seeks to implement, both for women aged 60 to 64, as well as for scholarships for children or adolescents in secondary school.

“In addition to the investment budget, both in water and some mobility, and also the budget for trains, which would be our main project, and housing, because part of it is Infonavit and another part is low-income housing that we would build, based on that data,” added the virtual president-elect.

Taxes Everything normal

Claudia Sheinbaum ruled out a new tax reform in her near future.

Few increases

Claudia also ruled out that there will be new taxes for Mexicans in her government, and mentioned that a deep tax reform is not planned. “Some issues of the Tax Code itself are being reviewed, as is done every year, that is what we are reviewing. But there will not be new taxes and the increase will be in real terms, which corresponds to inflation,” Sheinbaum explained.

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