LatinNews Daily - 05 November 2025

*Mexico’s lower chamber of deputies has approved the spending side of the 2026 budget proposal, which projects total spending of M$10.19tn (US$545.9bn). This marks an increase of M$891.67bn (+5.9%) on the budget approved for 2025. The draft spending budget was approved in general terms by 358 votes in favour to 133 against. Of the estimated total, 69.6% corresponds to programmable spending and the remaining 30.4% to non-programmable expenditures. Programmable spending, which is aimed at generating goods, services, and public works for the public, totals M$7.95tn, representing a 5% increase in real terms compared to the amount approved for 2025. The projection for non-programmable spending for 2026 amounts to M$3.10tn, which is made up of the financial cost of debt, which accounts for 50.7% of the total; shares delivered to states and municipalities, which represent 47%; and the payment of debts from previous fiscal years (Adefas), which accounts for 2.3% of the total. The individual articles of the budget will be discussed and voted on today (5 November).

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