Japanese R&I maintains Mexico’s debt rating at BBB+

Mexico City. The Japanese R&I ratified the rating of Mexico’s sovereign debt at BBB+ and maintained the stable outlook, so it does not expect movements in the note in the medium term. He considered that despite the increase in the fiscal deficit expected for 2024, the fiscal program is prudent.

With this, Mexico maintains its investment grade with a stable outlook in the 8 agencies that rate its debt, the Ministry of Finance and Public Credit emphasized in a statement. At the same time, he maintained that “this ratification of the sovereign rating will allow the country to continue with favorable access to national and international markets.”

In its review, R&I mentioned that the fiscal policy implemented is prudent, focused on controlling the level of public sector debt as a percentage of gross domestic product (GDP), which is below peer economies, despite the increase in the deficit. fiscal expected in the program for 2024.

According to what was stated by the Ministry of Finance, R&I considered that the country maintains a low current account deficit with respect to GDP associated with the growth of non-oil exports and the flow of remittances. Likewise, he highlighted the adequate level of international reserves to cover short-term external debt, combined with the Flexible Credit Line with the International Monetary Fund for 35 billion dollars.

The venture firm also highlighted the country’s economic solidity derived from the strength of domestic demand and pointed out the importance of public and private investment in relation to GDP growth, as well as the greater flows of Foreign Direct Investment associated with relocation. of companies, to expand Mexico’s productive capacity, the Treasury reported.