Hacienda Seeks 3.5% Deficit in 2027; Digital Economy Law Proposal

This week in finance: Hacienda delivered the 2027 Economic Package to Congress, proposing an MX$275.20 billion reduction in programmable public spending to narrow the fiscal deficit from 4.1% of GDP to 3.5% by year-end 2027. Meanwhile, Mexico's federal government will send Congress a Digital Economy Law as part of the reforms accompanying the 2027 Economic Package. In other news, Afore SURA executed the first institutional investor transaction in M Bonds (Bonos M) under the Debt Securities Central Counterparty (CCV Deuda) framework.

More news below:

SHCP Delivers 2027 Budget to Congress, Targeting 3.5% Deficit

Mexico’s Ministry of Finance and Public Credit (SHCP) delivered the 2027 Economic Package to Congress, proposing an MX$275.20 billion (US$16.19 billion) reduction in programmable public spending to narrow the fiscal deficit from 4.1% of GDP to 3.5% by year-end 2027. Under the preliminary economic policy guidelines presented by SHCP, net federal expenditure will contract from 26.8% of GDP in 2026 to 25.2% in 2027. The plan establishes an aggressive trajectory to contain public debt accumulation amidst a 1.5% Q2 economic expansion, oil export prices holding above US$90 per barrel, and a peso trading under MX$17.00/US$1.00.

Sheinbaum Prepares Digital Economy Law to Curb Cash Use

Mexico's federal government will send Congress a Digital Economy Law as part of the reforms accompanying the 2027 Economic Package, President Claudia Sheinbaum confirmed on Sept. 8. The initiative aims to gradually reduce the country's reliance on cash in everyday transactions, setting specific timelines to push forward the digitalization of economic operations. The reform responds to a cash-dominant economy where digital payments cover only 18% of transactions, with cash used in up to 95% of purchases under MX$500. 

Afore SURA Executes First Trade on CCV Deuda Clearinghouse

Afore SURA executed the first institutional investor transaction in M Bonds (Bonos M) under the Debt Securities Central Counterparty (CCV Deuda) framework, expanding the post-trade reach of the Mexican Stock Exchange (Grupo BMV) fixed-income infrastructure. The transaction was completed through SIPO, the request-for-quote platform managed by SIF ICAP, with Scotiabank acting as the clearing partner to conduct clearing and settlement before CCV Deuda. The trade marks the first instance of a private pension fund manager (Afore) accessing centralized debt clearing in Mexico's domestic fixed-income market. 

AI Agents Redefine Banking Software Development: Finomnia

"Latin America — and Mexico in particular — presents a dynamic greenfield opportunity for financial software as regional institutions pivot from rapid user acquisition toward core technology modernization and profitability," says Andrea Pettinelli, CEO, Finomnia. Following its January 2026 consolidation under Apax funds, the EU financial software group generates €200 million (US$230 million) in revenue while allocating €20 million annually to R&D to embed autonomous AI agents across its core lending platforms. Finomnia is leveraging its established European banking bridge to supply enterprise-grade credit lifecycle infrastructure to both emerging fintech attackers and tier-one financial institutions across the Americas.