Sheinbaum Highlights Economic Growth, FDI Record in First Report

President Claudia Sheinbaum delivered her first government report on Sept. 1, emphasizing economic indicators, legislative reforms, and social programs implemented during her first 11 months in office. Sheinbaum reported that Mexico’s economy grew 1.2% in 2024, surpassing projections from international organizations. Inflation stood at 3.5% in July, the lowest level since early 2021, while the exchange rate remained below MX$19 per dollar. Public debt remained stable at around 50% of GDP, while foreign direct investment reached a record US$36 billion during 1H25, according to the president. 

“This growth positions Mexico as a strong economy amid a challenging international context,” she said. 

The minimum wage increased 12% in 2025, to MX$278.80 per day, and MX$419.88 in the northern border region. Sheinbaum said the wage hikes represent a cumulative increase of 135% in real terms since 2018. The government also introduced a labor reform granting one million app-based workers access to social security and accident coverage.

Federal revenue reached MX$5.95 trillion by Aug. 31, an increase of 8.5% from the same period last year and above the forecast in the Revenue Law. The administration allocated 2.3% of GDP to social programs, benefiting 32 million families, including 13 million seniors and 1.6 million people with disabilities.

The president reiterated her industrial policy under “Plan México,” which includes 15 economic development hubs, the Interoceanic Corridor, and 100 new industrial parks. She invited domestic businesses to increase investment in productive sectors.

On poverty and inequality, Sheinbaum said 13.5 million people exited multidimensional poverty since 2018, with the national poverty rate declining from 41.9% in 2018 to 29.6% in 2024. The Gini coefficient (a statistical measure of dispersion used to represent income or wealth inequality within a population) fell from 0.426 to 0.391, placing Mexico as the second most equal country in the Americas after Canada, according to the report.

“I would like to take this opportunity to thank the private sector for signing, once again, the Economic Package Against Inflation and Scarcity, as well as the voluntary agreement to prevent gasoline price increases and the National Corn-Tortilla Agreement,” Sheinbaum stated. 

Sheinbaum highlighted trade relations with the United States, noting that Mexico maintains the lowest average tariff rates globally at 6.5%. She confirmed upcoming meetings with US Secretary of State Marco Rubio and other international leaders to advance bilateral and multilateral agreements.

Legislatively, the administration enacted 19 constitutional amendments and 40 new laws in the past year. Key changes included the popular election of Supreme Court judges, incorporation of the National Guard into the Defense Ministry, recognition of Indigenous and Afro-Mexican communities as public law entities, and reversal of the 2013 energy reform to strengthen PEMEX and CFE.

The president said her security strategy reduced homicides by 25% in 11 months, averaging 22 fewer cases daily compared to September 2024. High-impact crimes declined by 20%, with vehicle theft with violence down 31% and femicides down 34%.

Infrastructure projects completed or underway include sections of the Tren Maya, multiple highways and bridges, and the rehabilitation of 68 bridges in Guerrero damaged by Hurricane John. Sheinbaum said total investment in these projects amounts to MX$121.5 billion.

“We are doing well and we will do even better,” Sheinbaum said at the close of her address. “With the strength of Mexico, of our people, I will walk tirelessly, with integrity, with courage, and I will always honor the trust placed in me.”