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Economy & Business - October 2020

MEXICO: Draft 2021 budget maintains austerity

The government led by Mexico’s President Andres Manuel Lopez Obrador submitted its 2021 budget proposal to the federal congress on 8 September. The spending plans presented by Economy Minister Arturo Herrera for continue with the current administration’s emphasis on maintaining government austerity. However, have analysts voiced concerns over some of its assumptions. Critical elements such as its forecasts for economic growth, oil production, and the price of oil exports are seen as too optimistic by the likes of the Centro de Investigación Económica y Presupuestaria (CIEP), an economic think-tank, and the local public policy think-tank, México Evalúa. They warned that these assumptions could lead to lower tax revenues than expected.

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