JM11 - Mexico | More revenue favors the public balance

Summary

In September the historic balance of public sector borrowing requirements (HBPSBR) was 48.4% vs. 52.4% of GDP in December 2020. Among other reasons, the GDP growth forecast for 2021 significantly contributed to the reduction in the HBPSBR between December 2020 and September 2021.

Key points

• Key points:
• During the January-September period the primary balance was MXN 107,601 million, a figure that compares favorably to the target of MXN -107,285 million for such balance in 2021
• The better performance of non-tax revenue made it possible for total revenue to be above budget during the January-September period
• Public revenue and public spending showed a real annual increase of 5.6% in the January-September period

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