Background on Coparmex and its Relevance
Coparmex, or the Confederation of Mexican Business Chambers, is a prominent business organization in Mexico. Led by Juan José Sierra, it represents various sectors and industries, advocating for policies that foster a healthy business environment. Given its extensive membership and influence, Coparmex’s stance on economic matters often shapes public discourse and policy discussions.
Analysis of the 2026 Economic Package
In response to the Mexican Secretariat of Finance and Public Credit’s (SHCP) announcement of tariffs on diverse sectors to shield them from Chinese competition, Coparmex has expressed concerns about excessive tax increases potentially causing inflationary pressures and disrupting production processes.
Potential Impact on Investor Confidence
Coparmex analyzed the 2026 Economic Package and highlighted that increased taxes could negatively affect investor confidence. Specifically, they pointed out the following tax hikes:
- Increase in excise taxes (IEPS) on flavored beverages, tobacco, gambling, and violent video games.
- Elimination of bank deductions for the Interbank Payment System (IPAB) fee.
These changes, according to Coparmex, signal fiscal uncertainty that could discourage investment despite a lack of evidence showing these taxes reduce consumption.
Combatting Fraudulent Practices vs. Maintaining Certeza Jurídica
While addressing fraudulent practices is essential, Coparmex argues that setting limits on defending taxpayers’ rights and ensuring fiscal interest erodes legal certainty. This balance is crucial for maintaining a stable business environment.
Concerns Regarding Fiscal Targets
Coparmex expressed concern over the projected 2025 deficit, estimated at 3.9%, but now expected to reach 4.3%. However, they acknowledged that international credit rating agencies continue to show confidence in the Mexican government’s fiscal policy.
Details of the 2026 Economic Package
The 2026 Economic Package proposes a total expenditure of 10.1 trillion pesos, with estimated revenues of 8.7 trillion pesos. This results in a deficit and debt level of 4.1% of the GDP, slightly below the projected figure for 2025.
Coparmex bases this scenario on optimistic economic growth projections ranging from 1.8% to 2.8%. These estimates depend on the government’s commitment to providing investment, security, and legal certainty to sustain revenue and stabilize public finances.
