The Employers’ Confederation of the Mexican Republic (Coparmex) warned that the Federation’s 2026 Expenditure Budget Project maintains a welfare approach that does not strengthen the country’s productive capacities or address the needs of Micro, Small and Medium Enterprises (MSMEs), considered the heart of the national economy.
The organization pointed out that, although the 2026 Economic Package is based on more realistic assumptions than in previous years, risks persist that can weaken social pillars and limit productive growth.
The concentration of resources in sectors such as energy leaves fundamental areas such as health, education, security and infrastructure behind, he stated in a report published this Monday.
According to the analysis, the federal government estimates tax revenues of 5.8 trillion pesos, an increase of 6.5% compared to what was approved in 2025. However, the budget is based on a deficit of 4.1% of GDP, with a public debt that will reach 52.3% of GDP, equivalent to 151 thousand pesos per inhabitant.
Coparmex warned that this level of debt would not be alarming if the resources were allocated to productive projects, but, “once again, the debt will mainly finance current spending and not investment.”
He added that the financial cost will amount to 1.6 trillion pesos, with a real increase of 9.4%, which reduces the fiscal space available for priority areas.
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He pointed out that in the case of public investment, this item will reach 1.25 trillion pesos, equivalent to 3.2% of GDP, still far from the 5% necessary to trigger private investment and achieve sustained growth.
Three sectors—energy, housing and transportation—will absorb more than 80% of physical investment spending, and Pemex will receive one in four pesos.
Coparmex stressed that this concentration limits productive diversification and reduces the social impact of spending, since resources continue to be concentrated on priority works such as the Mayan Train, instead of being allocated to hospitals, schools, roads or digital connectivity.
The confederation reiterated that the budget must become an instrument of productive development and not just a tool to manage spending.
He proposed strengthening MSMEs through training programs, digitalization, financing and linking with value chains, in addition to reorienting debt towards productive investment and raising public investment to 5% of GDP with strategic planning that promotes private investment.
Likewise, he proposed promoting the participation of the private sector in energy and public works, ensuring the efficiency of public spending, and strengthening security and the rule of law to guarantee certainty for investments. He also called for the secondary laws derived from the judicial reform to be built with openness and dialogue, to preserve the independence of the powers and maintain the legal certainty necessary for the creation of jobs.
Coparmex concluded that the 2026 Economic Package must balance fiscal responsibility with a vision of the future, warning that without decisive support for MSMEs or strengthening social pillars, Mexico runs the risk of slowing down its productive potential and aggravating inequality.
He reaffirmed that economic growth will only be sustainable if those who generate jobs and invest are encouraged, with a budget that strengthens the rule of law, promotes innovation and guarantees that every peso of public spending translates into real opportunities for Mexican families.
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