Mexico’s Second Government Report: What Sheinbaum’s Recap Means for Life in San Miguel

President Claudia Sheinbaum delivered her Second Government Report from the National Palace on September 1, covering the first 23 months of her administration. This is a plain-language recap of the figures she presented, written for the audience I talk to every day: people who live here, & people deciding whether San Miguel de Allende is where they want to own a home.

The full address is here if you want the source itself:

The key numbers, in one list:

What did the report say about Mexico’s economy?

Mexico counts 60 million employed people & a 2.7% unemployment rate, among the lowest in the OECD. Foreign direct investment reached a record of nearly $35 billion USD in the first half of 2026 alone, driven largely by manufacturing & nearshoring into the industrial corridor that runs through the Bajío.

For context, that Bajío corridor, Querétaro, Guanajuato, Aguascalientes, is the same economic engine that keeps San Miguel’s services, restaurants & retail stocked year-round rather than seasonally. A strong national employment picture shows up here as full flights into BJX & QRO, busy weekdays in Centro, & a local economy that does not switch off when the tourists go home. Coverage of the economic section of the address is summarized by PorEsto & Tribuna.

How much have wages grown in Mexico?

The minimum wage has risen 154% in real terms since 2018, & the average formal-sector wage reached a record 20,212 pesos per month, roughly $1,190 USD at current exchange rates. It is one of the largest real wage recoveries in Latin America over the period.

The practical read for anyone running a household here: labor costs for domestic help, gardeners, trades & renovation crews have been climbing steadily, & they will keep climbing. If you are budgeting ownership costs, build in annual increases on the service side rather than assuming 2019 prices. My cost of living guide breaks those numbers down by category.

Is Mexico getting safer?

According to the report, homicides have fallen 51% since Sheinbaum took office, equivalent to 44 fewer killings per day nationally. The government credits its security strategy of intelligence work, National Guard deployment & social programs aimed at young people.

Two honest caveats. National homicide statistics & the daily reality in a small UNESCO heritage city are different conversations, & San Miguel de Allende has long operated at the calmer end of the national picture. What the national trend does affect is perception: fewer alarming headlines abroad means more of your friends & family stop asking whether it is safe to visit, & more buyers take the trip they have been postponing. The point-by-point coverage from El Universal is a good companion read.

What is changing in healthcare?

33 new hospitals have opened over the past two years, & the administration plans 152 new health facilities across the six-year term, alongside the continued expansion of IMSS-Bienestar as the backbone of public coverage.

For foreign residents, the public system is only part of the story. Most expats in San Miguel combine IMSS or IMSS-Bienestar eligibility with private insurance & pay-out-of-pocket private care, which remains inexpensive by U.S. or Canadian standards. New hospital capacity nationally tends to arrive first in state capitals & larger cities, so the effect here is gradual rather than immediate. If healthcare is a deciding factor in your move, start with how healthcare & insurance actually work for expats in Mexico.

What infrastructure is planned?

The 2026 National Infrastructure Plan commits more than 960 billion pesos, roughly $56 billion USD, to roads, ports, airports, passenger trains, energy, hospitals & schools. It is one of the largest single-year infrastructure commitments in recent Mexican history.

The pieces most likely to be felt around San Miguel are the passenger train corridors & highway programs in the Bajío & central region. Anything that shortens the trip from Mexico City or improves the Querétaro & León connections makes a weekend home here easier to use, & easier access historically shows up later in property demand. The full text of the address, including the infrastructure section, is published by SDP Noticias.

What about energy & water?

Mexico imports 75% of the natural gas it consumes, & the government is studying whether more domestic unconventional gas can be developed while protecting water & communities. On water, the report claims more than 5 billion cubic meters have been “de-privatized,” enough, it says, to supply 90 million people for a year, alongside 24,000+ potable-water & drainage projects in 2,183 municipalities.

Water is the line item I would watch most closely as a homeowner here. San Miguel sits in a high, semi-arid basin where the aquifer conversation is permanent, & national water policy filters down into well permits, new development rules & the long-term math of every property. The energy side matters mainly for electricity costs & reliability, which most full-time residents will tell you have been stable but not cheap.

Where does Mexico stand with the United States?

Sheinbaum acknowledged “difficulties” in the relationship, emphasized continued cooperation on security & trade, & delivered the line that dominated coverage: “cooperation does not mean submission.” The tone was firm on sovereignty without closing any doors.

For the Americans & Canadians who make up most of San Miguel’s foreign community, the relationship that matters day to day is the practical one: flights, banking, the USMCA trade framework & consular services, all of which continue to function normally. Diplomatic rhetoric at the podium has historically had very little effect on life in a colonial city 4 hours from the capital.

What does all of this mean if you own or want to own in San Miguel de Allende?

The short version: the macro backdrop for owning here looks steady. Record foreign investment & 2.7% unemployment point to a functioning economy, wage growth keeps the local service economy healthy, & the infrastructure & hospital commitments point the right direction even if their effects arrive slowly.

None of these national figures change the fundamentals of this specific market, which still runs on lifestyle demand, limited Centro inventory & patient buyers & sellers. For the local numbers, the August 2026 market report has the real figures from our own MLS, & the market updates hub keeps every month in one place. If the report tipped you from “thinking about it” to “planning it,” the Buyer’s Roadmap lays out exactly how a purchase works here, step by step.

Where can I watch or read the full report?

The complete address is embedded above & available on YouTube. For Spanish-language readers, SDP Noticias published the full text & El Universal’s point-by-point recap covers the security, migration & sovereignty sections in detail.