Weekly Report - 24 September 2026 (WR-26-38)

MEXICO | Fitch commends ‘credible’ budget proposal but notes risks. International credit ratings agency Fitch Ratings responded to President Claudia Sheinbaum’s 2027 budget proposal on 17 September, stating that it provided a “more credible approach” to fiscal consolidation than previous budgets. However, the ratings agency warned that medium-term risks still remained, in particular in relation to the “mild” target deficit reduction, continued support for state-run oil company Pemex, and “piecemeal tax measures”.