Mexico: Public Finances – $492.3 billion deficit in the PSBRs up to September

  • PSBRs accumulated a $492.3bn deficit (~1.7% of GDP; ~US$24.4bn) until 3Q22

  • Revenues increased 4.8% y/y in real terms, driven again by the oil sector. Expenditures went up 3.5%, highlighting CFE

  • With this, the HBPSBR stood at $13.5 trillion, equivalent to 46.5% of GDP
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