Fiscal Balance in Mexico
Mexico's fiscal deficit over the last decade was generally moderate by emerging market and Latin American standards, even during the depths of the pandemic. This reflected cautious fiscal policy under President López Obrador. However, the deficit widened markedly in 2024 due to election-related spending. 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 2024.
Source: Macrobond.
Mexico Fiscal Balance Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -2.8 | -2.8 | -3.2 | -3.3 | -4.9 |
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 28 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.
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