Mexico's Ministry of Finance and Public Credit announced that the federal government, Bank of Mexico and the Mexican Banking Association (ABM) signed an agreement at the 88th Banking Convention to increase financing to small and medium-sized enterprises (SMEs) by 3.5% annually during the current administration. The ministry framed the agreement as a response to low bank credit penetration among micro, small and medium-sized enterprises (Mipymes), which the 2024 Economic Census shows account for 99.8% of establishments (5.4 million firms) and 70.6% of national employment (more than 19.6 million people), but where only 4.4% have bank financing (around 242,000 economic units). In remarks at the convention, the Finance Minister also cited 2024 foreign direct investment of USD 36,872 million (up 2.3% year on year) and federal public debt of 49.2% of GDP as part of the macroeconomic context.
Ministry of Finance & Public Credit (Mexico) 2025-05-08
Mexico's Ministry of Finance and Public Credit signs agreement with Bank of Mexico and the Mexican Banking Association to increase SME lending by 3.5% per year
Mexico's Ministry of Finance, the Bank of Mexico, and the Mexican Banking Association signed an agreement to boost SME financing by 3.5% annually. This addresses low bank credit penetration among SMEs, which constitute 99.8% of establishments and 70.6% of employment. The Finance Minister highlighted 2024 foreign direct investment of USD 36,872 million and federal public debt at 49.2% of GDP.