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PrintMexican president sees this year's budget deficit below 6% of GDP
BY Reuters | ECONOMIC | 10/10/24 10:41 AM EDTMEXICO CITY, Oct 10 (Reuters) -
The Mexican government's wide budget deficit this year should land below 6% of the country's economic output, President Claudia Sheinbaum said on Thursday, pledging to keep government red ink roughly in line with an earlier forecast.
This year's deficit was previously estimated at 5.9% of the country's gross domestic product (GDP).
Sheinbaum, who took office at the start of this month, added that her government is aiming to reduce the deficit to 3.5% of GDP in 2025, though she did not detail spending cuts she intends to pursue.
After several years of holding the line on government spending with wide-ranging austerity measures, the budget in the final year of former President Andres Manuel Lopez Obrador's administration ballooned the deficit to its highest level since the 1980s. (Reporting by Raul Cortes Fernandez and Ana Isabel Martinez; Editing by Sarah Morland)
