MEXICO CITY, April 30 (Reuters) -
Mexico's budgetary deficit is under control and not putting pressure on the economy, Deputy Finance Minister Gabriel Yorio said on Tuesday, after official numbers showed economic growth lost some steam on a yearly basis.
Preliminary estimates from the country's national statistics agency INEGI showed Latin America's second-largest economy had grown only 0.2% from the previous quarter, which was stronger than forecasters had expected.
It grew 1.6% versus a year earlier, the numbers showed, slowing from the 2.5% posted in the previous quarter, and below the projected 2.1%. Even so, the new numbers mark the tenth consecutive quarter of growth.
"It's essential to highlight that this year's budget deficit is not putting pressure on prices in the economy," Yorio said at a press conference for the quarterly report.
"The deficit is controlled, and has an orderly evolution with respect to the program presented to Congress."
Mexican state energy company Pemex, which has for years been a concern for public finances, received 112 billion pesos ($6.55 billion) in fiscal stimulus between October and January, finance ministry data showed.
Mexicans are set to vote on June 2 to pick a successor to popular President Andres Manuel Lopez Obrador, as well as scores of other elected positions across the country. The next budget will be presented by the new government on Nov. 15.
"Our economic fundamentals are solid. Our financial sector is solid," Yorio reiterated. "There are no elements to suggest that there could be a financial stress event in 2025."
For months, former Mexico City mayor and ruling party candidate Claudia Sheinbaum has held a
clear lead in the race
for presidency. By law, Lopez Obrador is limited to one six-year term.
($1 = 17.1001 Mexican pesos) (Reporting by Adriana Barrera; Writing by Stefanie Eschenbacher; Editing by Brendan O'Boyle and David Gregorio)
