President Enrique Peña Nieto addressed the nation on the occasion of his Third State of the Union Address. During his speech, he said that the country had various alternatives to cope with the complex scenario of the global economy.
One was to raise taxes, which is a decision that will not be made, meaning that VAT will not be charged on either food or medicine.
Likewise, no new taxes will be proposed nor will existing ones be increased, because in order to create jobs and grow, both businesses and families should have tax certainty.
Given this scenario, one option was to increase debt, which we will not do, so it is up to the government to tighten its belt, in other words, spend less and more wisely.