LatinNews Regional Monitor: Mexico - 17 September 2019

* Mexican private sector think-tank, Centro de Estudios Económicos del Sector Privado (CEESP), has issued a report highlighting that minor growth is set to limit tax revenues. The country’s 2020 financial package foresees an increase of 3.7% in tax revenues dependent on various elements including that economic growth of between 1.5% and 2.5% is met and oil production is reactivated. The CEESP’s report claims the government has based its calculations on optimistic figures, overestimating growth from between 1.4% and 2.4% to 1.5% and 2.5%. It adds that the GDP figure may be overestimated as it is founded in part upon an increase in the production of oil. The CEESP notes that oil production has maintained a constant rhythm of decline since 2004.

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