Mexico's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)

Mexico’s fiscal history illustrates its efforts to maintain stability amid external shocks. The early 1990s saw small surpluses, but the 1994 Tequila Crisis and subsequent financial challenges led to persistent deficits, peaking at -4.5% in 1998-1999.

The pandemic intensified fiscal pressures, with deficits at -4.3% in 2020-2023. While recovery is expected, with deficits stabilizing at -2.7% by 2029, structural reforms are essential to address long-term fiscal vulnerabilities.