Fiscal Balance in Mexico
Mexico's fiscal deficit from 2013 to 2022 reflected its economic and political challenges. Initially, the government focused on fiscal reforms to improve revenue and reduce the deficit. However, lower oil revenues and slow economic growth hindered these efforts. The COVID-19 pandemic led to increased spending and a larger deficit. That said, counter-cyclical fiscal policy during the pandemic was mild by regional standards, due to President Obrador's long-standing aversion to accumulating public debt.
The fiscal balance of Mexico averaged -2.4% of GDP in the decade to 2022, above the Latin America average of -4.7% of GDP. The fiscal balance in Mexico in 2022 was -3.2% of GDP. For more fiscal balance information, visit our dedicated page.
Mexico Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for Mexico from 2022 to 2021.
Source: Macrobond.
Mexico Fiscal Balance Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -1.6 | -2.8 | -2.8 | -3.2 | -3.3 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Mexican fiscal balance projections for the next ten years from a panel of 29 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Mexican fiscal balance.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Mexican fiscal balance projections.
Want to get access to the full dataset of Mexican fiscal balance forecasts? Send an email to info@focus-economics.com.