Mexico Proposes Slight Easing of Austerity in 2022 Budget
- Finance Ministry proposal sees budget deficit growing to 3.1%
- Economy forecast to grow 4.1% in 2022 after rebound this year
This article is for subscribers only.
Mexico’s new finance minister proposed a slight loosening of President Andres Manuel Lopez Obrador’s austere fiscal belt, with a slightly-less conservative budget for 2022.
While much of the world spent heavily to prop up struggling economies during the pandemic, Lopez Obrador refused to increase borrowing, saying a lower debt load would help the economy recover faster. But Finance Minister Rogelio Ramirez de la O, a longtime ally of the president, seems to have persuaded him to slightly ease the government’s fiscal restraints.