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Mexico Sends 2026 Budget to Congress With Tariff Overhaul, Pemex Support and No Broad Tax Hike

Revenue gains will come from customs changes and digital enforcement instead of higher IVA or ISR.

Overview

  • More than 1,400 tariff lines would be adjusted to bolster domestic industry, with Hacienda estimating roughly 70 billion pesos in additional customs revenue.
  • The proposal reallocates spending with big increases for Energy (about 87% real) and the Digital Transformation agency (24%), while the Security Ministry shows a 17.5% real cut as the National Guard’s funding sits under Defense.
  • Projected federal revenues are about 8.7 trillion pesos against 10.2 trillion in spending, including a public investment push exceeding 900 billion pesos across priority projects.
  • Claudia Sheinbaum said Treasury will keep backing Pemex to cover heavy interest maturities, noting the oil company faces around 250 billion pesos in payments next year.
  • Authorities cite anti-evasion drives and a new customs law, report roughly 1,500 open cases against fake-invoice networks with no arrest warrants yet, end bank deductibility of Fobaproa/IPAB fees, and include a health levy that would add about one peso to a 600 ml sugary drink.