Mexico GDP Growth Projections Revised as Remittances Expand 3.1%

This week in finance: Analysts polled by Banxico have raised Mexico’s 2026 GDP growth forecast to 1.1-1.2%. Meanwhile, family remittances to Mexico expanded 3.1% year-over-year during 1H26, totaling US$30.759 billion. In other news, Hey Banco announced a partnership with tapi to integrate recurring bill payment capabilities directly into its mobile application.

More news below:

Analysts Raise Mexico’s 2026 Forecast to 1.2%

Private economic analysts surveyed by Mexico’s central bank (Banxico) raised Mexico’s 2026 gross domestic product growth forecast slightly to a range between 1.1% and 1.2%, signaling stabilization while remaining significantly below official government projections. In parallel, data from monthly expectation surveys conducted by Citi Mexico revealed a consensus revision from previous estimates of 1.07% to 1.1%.

Mexico Remittances Surge 3.1% to US$30.76 Billion in 1H26

Family remittances to Mexico expanded 3.1% year-over-year during 1H26, totaling US$30.759 billion, according to official financial performance data released by Banco de México. The six-month total represents an absolute increase of US$917 million compared to the US$29.842 billion captured during 1H25. The overall expansion was driven by a rise in individual transfer amounts, which offset a slight contraction in total transaction volume during a period characterized by heightened border enforcement and changing immigration controls in the United States.

Hey Banco, tapi Partner for Digital Services Payments in Mexico

Mexican neobank Hey Banco announced a partnership with tapi to integrate recurring bill payment capabilities directly into its mobile application. The technological integration enables Hey Banco clients to process routine service payments — including electricity, water, telecommunications, tuition fees, and municipal taxes — within a single digital interface without navigating outside the primary banking application. The collaboration forms part of Hey Banco's broader strategic roadmap to expand its digital banking ecosystem, offering financial management tools that simplify daily personal finances within a unified environment. 

HR Ratings Cites Growth Risks to Mexico’s Fiscal Plan

HR Ratings has expressed doubts over whether Mexico’s Ministry of Finance and Public Credit (SHCP) will achieve its 2026 primary surplus target of MX$171.3 billion (US$9.94 billion). According to the agency, the federal government would need to generate a primary surplus of MX$57.4 billion (US$3.33 billion) during the second half of the year to meet its fiscal objective — an outcome HR Ratings considers optimistic given slower economic growth, decelerating tax revenue collection, and persistent spending pressures.