The Autonomous Fiscal Rule Committee reported that central government total and primary spending through April 2026 reached 7.5% and 6% of GDP respectively.
According to the report released on May 19, these figures exceed by one percentage point the average total spending and by half a point the primary spending recorded between 2021 and 2025. Primary spending measured through current-year payments stood at 4.8% of GDP, a level similar to April 2025.
Execution of the budget reserve reached 55% of the 43 trillion pesos constituted, while obligations reached 71.3%. Payments from this reserve represented 1.2% of GDP, a reduction of 0.3 points from the same period last year.
In April TES securities recorded devaluations, with an average rise of 19 basis points in peso rates. The zero-coupon curve slope between one and ten years stood at negative seven basis points, below recent averages.
