Mexico Targets Lower Budget Deficit by 2025

Mexican President Claudia Sheinbaum announced a plan to keep the government's budget deficit below 6% of GDP for 2023 and aims to reduce it to 3.5% by 2025. This year's deficit is expected to be 5.9% of the nation's economic output.

In a significant fiscal announcement, Mexican President Claudia Sheinbaum revealed how the nation plans to manage its budget deficit over the next few years. The government aims to close 2023 with a deficit under 6% of GDP.

The current year's budget deficit is projected to reach 5.9% of Mexico's economic output, a figure that reflects the administration's broader financial strategy.

Looking ahead, President Sheinbaum has set a targeted reduction for the deficit to 3.5% of GDP by 2025, emphasizing economic stability and growth.

(With inputs from agencies.)