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Weekly Report - 12 September 2019 (WR-19-36)

MEXICO: López Obrador’s first budget disappoints

The government led by President Andrés Manuel López Obrador has submitted its proposed 2020 national budget to Mexico’s federal congress for debate. This is the first budget drafted by the López Obrador administration since it assumed office in December 2018. The government has promised that it will deliver economic development, improved social well-being, and a reactivated national oil sector, while maintaining a fiscal surplus. But the spending plan has disappointed local business groups, which expected higher levels of investment spending to help revive the faltering economy. There are also concerns over the funds to be injected into the state-owned oil firm, Pemex, given the persistent questions over the government’s business plan for the company.

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