Sheinbaum rules out a fiscal crisis; “zero, no problem”

Mexico City. In response to a specific question, President Claudia Sheinbaum Pardo ruled out a fiscal crisis. “Zero, there is no problem, the government is closing well,” there are resources in the Treasury, he said. He affirmed that this year the deficit will close at “a little less than six percent,” according to the estimates of the Ministry of Finance, but in 2025, he stressed, the objective is to reach 3.5 percent.

“There is going to be a significant reduction, and the markets are going to receive it well,” he said in the morning of the town, where he stressed that public works and welfare programs “have to continue, both those who are there, with their increase – they will incorporate 400 thousand people who have already turned 65 to the program for older adults, and the new ones.”

As already demonstrated, he added, “when there is public work, private investment is enhanced and jobs are generated. So, closing to zero public investment would not be correct.”

He reiterated that there will be no increase in tax rates, “but it will significantly reduce the deficit.”

At a press conference, he also mentioned that the budget for science and humanities will increase little by little.

“The objective is that the different scientific, technological and humanities and social sciences research groups can coordinate so that all this knowledge can generate development in certain areas.”

For example, he commented, the development of a compact electric vehicle, designed, produced and assembled by Mexicans, for which it is required, he added, “to bring together scientific and technological people” from different institutions, such as the UNAM and the IPN.

He mentioned that he also plans development in medical patents. “Mexico has top-level biomedical research researchers,” he highlighted.

He indicated that it is not a matter of resources, “but of how we come together (…) If we recover the momentum of technological development that exists in Mexican minds, we will advance in national development. Why not give ourselves the opportunity to promote innovation and technological development as well as humanities and social sciences?

“It will allow us to advance on many existing issues that remain published in an article and do not become progress in national development.”

He highlighted that the people of Mexico are among the hardest workers in the world, while national researchers are highly recognized. “What we want is for all that wonder that our people really are to come together to be able to produce.”