Background on Édgar Amador Zamora and His Role
Édgar Amador Zamora serves as the Secretary of Fiscal and Credit Public (SHCP) in Mexico. His role is crucial as he presents the economic policies and budget plans for the country. In this capacity, Amador Zamora recently delivered the 2026 Economic Package to the Chamber of Deputies, outlining key macroeconomic variables and projected income and expenditure estimates for the upcoming year.
Current Fiscal Situation and 2026 Projections
Under Claudia Sheinbaum’s administration, Mexico will need to continue its fiscal consolidation efforts in 2026, as the government failed to meet this year’s target despite implementing spending cuts. The Paquete Económico 2026, presented by the SHCP, details these challenges.
Revisions to Macroeconomic Framework
According to the General Criteria of Economic Policy 2026, one of three documents that make up the Economic Package, the Sector Public’s Financial Requirements (RFSP) are projected to be at 4.1% of the Gross Domestic Product (GDP), lower than the historical level of 5.7% observed in 2024.
The SHCP stated that this adjustment will help maintain a stable trajectory for public debt and provide certainty to the population, markets, and international community about Mexico’s commitment to fiscal sustainability.
Fiscal Deficit and Expected Improvements
For the current year, the fiscal deficit is expected to be at 4.3% of GDP, exceeding the 3.9% approved by the Federal Congress. The SHCP attributes this adjustment to “revisions of the macroeconomic framework due to a less favorable external environment and adjustments in projections for the closure of state-owned enterprises and social security institutions.”
Moderation of Uncertainty and Economic Growth Projections
The estimates for 2026 are based on a projected economic growth range of 1.8% to 2.8%, better than the previous projection of 1.5% to 2.5%. This optimism stems from the expectation that global uncertainty will moderate in 2026, creating a more favorable environment.
“Although global uncertainty persists, it is expected to moderate throughout 2026. This more favorable environment, combined with public spending focused on social programs and investment projects with positive effects on aggregate demand and potential growth, supports a prudent growth projection for the upcoming year,” Amador Zamora explained.
Increase in Public Spending
Unlike the current year, where public spending cuts were prioritized to achieve fiscal consolidation, the 2026 projection anticipates a 5.9% increase in total net expenditure, resulting in 10.1 trillion pesos for the following year.
Key Questions and Answers
- Who is Édgar Amador Zamora? He is the Secretary of Fiscal and Credit Public (SHCP) in Mexico, responsible for presenting the country’s economic policies and budget plans.
- What is the current fiscal situation in Mexico? The government failed to meet this year’s fiscal consolidation target despite implementing spending cuts. The 2026 Economic Package, presented by the SHCP, details these challenges.
- What are the projected economic growth rates for 2026? The estimates project an economic growth range of 1.8% to 2.8%, better than the previous projection.
- Why is there a need for fiscal consolidation in 2026? The adjustments to the macroeconomic framework, less favorable external conditions, and revised projections for state-owned enterprises and social security institutions necessitate continued fiscal consolidation efforts.
- How will public spending be allocated in 2026? Public spending is expected to increase by 5.9% in total net expenditure, with a focus on social programs and investment projects that positively impact aggregate demand and potential growth.
