## Mexico: 2019 Article IV Consultation-Press Release and Staff Report

_IMF Staff Country Reports, November 5, 2019_

## Source details

**Canonical URL:** [Mexico: 2019 Article IV Consultation-Press Release and Staff Report](https://www.imf.org/en/publications/cr/issues/2019/11/05/mexico-2019-article-iv-consultation-press-release-and-staff-report-48788)

## Other formats

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## Bibliographic details
- Published: November 5, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513519005.002

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### Growth outlook and macroeconomic context
- Growth is expected to accelerate modestly in the near-term, reaching 0.4 percent in 2019, as macroeconomic policies become less contractionary.
- The administration’s solid mandate presents an opportunity to address Mexico’s longstanding structural challenges while maintaining very strong policies and policy frameworks.

### Monetary policy and inflation
- Monetary policy has started easing in the context of a widening negative output gap and declining inflation.
- Keywords related to monetary conditions in the report include: core inflation, headline inflation, inflation expectation, effectiveness to monetary policy, exchange rate.

### Fiscal policy and revenue recommendations
- Staff highlighted the need to specify credible measures to reach the announced fiscal targets while adopting a more growth-friendly and inclusive policy mix.
- Increasing non-oil tax revenues, paired with improving the efficiency of spending, will be an imperative in this regard.
- Subject tags related to fiscal matters: Public debt, Public sector, Revenue administration.

### Structural reforms and financial sector
- The authorities have initiated a package of reforms to strengthen financial deepening and inclusion.
- Subject tags related to the financial sector: Banking, Credit, Money, Credit, financial deepening, inclusion.

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_Source: https://www.imf.org/en/publications/cr/issues/2019/11/05/mexico-2019-article-iv-consultation-press-release-and-staff-report-48788_