“(With the remnants) we estimate that the deficit would be 4.5% of GDP,” said Julio Ruiz, Citi Mexico economist.
The economist considers that Banxico will maintain the creation of reserves even though they are at historical maximums.
The remnants of Banco de México are resources that come from the positive balance that results from the operations made by the Central Bank.
Depending on these movements, a cut is made at the end of the year and delivered to the Treasury of the Federation in April.
By law, 70% of this money is used to reduce public debt, and the rest to funds to contribute to the country’s financial stabilization.
Banxico will publish the official figure on April 30.
And they expect a technical recession
Julio Ruiz and Felipe Juncal stressed that the Mexican economy is aimed at a technical recession because they estimate a contraction of 0.4% in the first quarter of this year coupled with the fall of 0.6% of the last quarter of 2024.
For the second quarter of GDP, a weak economic activity is expected with a growth of 0.2% and 0.4% for the third and fourth quarter of the year.
