The Ministry of Finance and Public Credit (SHCP) assured that the 2025 Economic Package is constituted on a realistic and prudent basis of the current economic situation, in addition to the fact that the Federation Expenditure Budget Project guarantees basic aspects for the population, such as health and education.
“The General Economic Policy Criteria that underpins this budget are built on a realistic and prudent basis of the current economic situation, taking into account internal and global challenges and establishing projections that ensure responsible fiscal consolidation both in the short and long term. medium term,” said the Secretary of Finance and Public Credit, Rogelio Ramírez de la O.
During his appearance before the Plenary Session of the Chamber of Deputies to give details of the 2025 Economic Package, he noted that although risks derived from geopolitical conflicts and possible adverse climate events persist, a more favorable environment for global growth is expected, which will offer opportunities for for the Mexican economy to advance.
Additionally, the prospect of lower interest rates and a recovery in U.S. manufacturing production provide a positive backdrop to strengthen exports and overall activity.
Domestically, the Secretary of the Treasury assured that the figures for the third quarter of 2024 confirm a recovery that will continue in the fourth quarter, which will allow the year to close with economic growth close to 2%; By 2025, it projects economic growth in the range of 2% to 3%.
It is worth remembering that private sector economic specialists consulted by the Bank of Mexico estimate that in 2025, economic growth will be 1.17%, some other analysts project levels around 1%, so the federal government’s forecast has been considered optimistic.
“This projection is based on the strength of employment and the dynamism of the domestic market, with consumption and investment as the main drivers. “Social programs will ensure a minimum level of consumption, while an increase in job creation and labor participation is expected,” he added.
The official highlighted that there has been more and more female participation in paid jobs, which, he asserted, will continue to complement family income and promote economic growth, while investment will be boosted by an increase in public spending and strategic projects in collaboration with the private sector, as well as company relocation processes (nearshoring).
Regarding spending on education and health, which has been questioned by analysts and civil society participants, Ramírez de la O assured that the Economic Package prioritizes the people of Mexico and prioritizes investment in strategic sectors.
“This package marks the beginning of a new government that shares with the outgoing government a vision of development with social justice, where the state assumes an active role as a promoter of collective well-being and recognizes access to education as fundamental rights of all. health and decent housing,” he said.
On the topic of health, the Center for Economic and Budgetary Research (CIEP) highlighted that in 2025, the health sector will face a cut of 113,582.9 million pesos, 11% in real terms, compared to the amount approved for 2024, and It would be located at 2.54 points of the gross domestic product (GDP).
With this, he mentioned, the budget gap to move towards universal coverage would widen. Spending per person with IMSS Bienestar would be reduced by 1,400 pesos and would go from 5,625 pesos in 2024 to 4,225 pesos in 2025.
On the other hand, the amounts for people with IMSS or ISSSTE would have increases and would be located at 9,635 and 11,531 pesos, “these differences not only perpetuate the differences in care, but also show the need to rethink the allocation of resources for a universal and equitable,” said the CIEP.
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