Mexico is poised for significant socioeconomic developments as it heads toward 2025, with various reforms and policies aimed at improving the living standards of its citizens and strengthening the economy. A primary focus will be the notable increase in the minimum wage, which exemplifies the administration's dedication to enhancing purchasing power and ensuring financial stability for the working class.
On January 1, 2025, the minimum wage will increase by 12%, moving from 248.93 pesos to 278.80 pesos per day for most regions, and from 374.89 to 419.80 pesos for areas near the United States border. This decision came from the Commission Nacional de Salarios Mínimos (Conasami), which aims to bolster the minimum wage to cover the equivalent of 2.5 basic food baskets. The Secretary of Labor highlighted, “This increase accounts for a cumulative recovery of 135% of the minimum wage, enabling the purchase of 5.3 kilos of beans, 5.6 kilos of eggs, and 13.2 kilos of tortillas with the new wage,” showcasing how the increase is set to affect everyday living expenses for families across Mexico.
President Claudia Sheinbaum expressed her gratitude to various stakeholders involved in securing the wage hike and reiterated her commitment to ensuring continuous increases beyond inflation rates—a measure passed unanimously by the Senate. During her presidency, Sheinbaum promised her administration would keep wages rising at least by the rate of inflation informed by historical trends.
Beyond wage adjustments, the Mexican government is also introducing fiscal changes, highlighted by updated taxes on gasoline and other goods. The Secretaria de Hacienda y Crédito Público issued new rates for the Impuesto Especial sobre Producción y Servicios (IEPS), stating the increased taxes will be tied to inflation rates, rising by 4.5% for the new year. These adjustments will see gasoline prices rise to 6.4555 pesos for Magna and 5.4513 pesos for Premium per liter. The changes could affect transportation costs, impacting consumer prices across various sectors.
Adding to the tax changes, there are new stipulations surrounding the Buzón Tributario, providing taxpayers with extended deadlines to comply without incurring penalties throughout 2025. The government has recognized the importance of easing burdens on citizens, particularly during such transformative fiscal periods.
Another notable policy is the introduction of the so-called “Ley Silla,” which mandates employers provide seats for employees who work standing up, recognizing the need for ergonomic work conditions. This legislation, which takes effect June 17, 2025, reflects the administration's attention to employee welfare as part of broader labor reforms.
Sheinbaum also emphasized her vision for legal improvements, including the election of judicial officials by public vote starting June 1, 2025, aiming to reinforce democratic principles by enhancing transparency and public accountability within the judiciary. "We are perhaps the only country globally where the judiciary will be elected democratically, and this is inherently beneficial for our nation," Sheinbaum stated.
Completing the series of reforms, the government announced the establishment of social security provisions for gig economy workers, particularly focusing on delivery personnel associated with major platforms like Uber and Rappi. The new law will recognize these workers as employees, granting them access to social security and pension plans.
Overall, as emphasized by Sheinbaum, 2025 presents opportunities for economic recovery and continued transformation across all sectors. She reminded citizens of the country's achievements under previous administrations, stating, "We will continue molding our public life with unity, heart, and intellect to build our beautiful homeland." Such statements serve as reminders of her commitment to advancing the nation's welfare and embracing the historical shift initiated by former President Andrés Manuel López Obrador.
With the significant salary increase alongside necessary fiscal and labor reforms, Mexico’s 2025 socioeconomic outlook seems geared toward substantial improvement, framed by the growing commitment to democratic values and citizens' rights.