Sheinbaum and Slim Meet on Mexico’s Economic Outlook

Mexico City — President Claudia Sheinbaum Pardo held a private meeting with Carlos Slim Helú, Mexico’s wealthiest businessman, at the National Palace. The nearly three-hour meeting focused on optimistic economic forecasts for Mexico in 2025 and 2026, contrasting with the economic slowdown reported by the National Institute of Statistics and Geography (INEGI). The summit aims to cement confidence between the business elite and the new government.

The Presidential Summit of November 2025

On Monday, November 24, 2025, President Claudia Sheinbaum Pardo held a private meeting at the National Palace with Carlos Slim Helú, leader of Grupo Carso. Slim is widely considered the richest man in Mexico.

Francisco Cervantes, who serves as president of the Business Coordinating Council (CCE), also participated in the meeting.

The president herself reported on her personal X account that the dialogue focused on the “good forecasts” for the Mexican economy at the end of 2025 and for 2026.

President Sheinbaum shared the following quote about the meeting:

“At the National Palace, we spoke with engineer Carlos Slim and with Francisco Cervantes, president of the Business Coordinating Council, about the good forecasts for the Mexican economy at the end of 2025 and for 2026.”

Logistics of a High-Security Meeting

This summit is at least the fourth occasion that President Sheinbaum Pardo has met with businessman Slim during the current government. It is the third time they have met specifically for economic reasons within the historic venue.

The president of Grupo Carso arrived at the Executive Power headquarters around 2:30 PM, entering through Correo Mayor Street and accompanied by his guards. The meeting lasted nearly three hours, with Slim Helú departing around 4:55 PM.

Details of the arrival:

• The businessman arrived in a Mercedes Benz vehicle.
• He was escorted by three to four armored trucks.

Slim Helú left without making any statements to media representatives, despite the generated expectation.

Security Context at the National Palace

It is worth noting that the private meeting took place while the National Palace was heavily guarded. The venue was protected by police elements and reinforced metal barriers with concrete blocks, in anticipation of protests scheduled for Tuesday as part of the International Day for the Elimination of Violence against Women.

Background of the Relationship

The last time they met, the Executive leader expressed her gratitude to Slim for the support he provided to people affected by landslides and heavy rains. These incidents had occurred in recent weeks in the states of Hidalgo, San Luis Potosí, Veracruz, and Puebla.

The Contrast with Macroeconomic Reality

Despite the “good forecasts” from the presidency that were central to the meeting, official data from the National Institute of Statistics and Geography (INEGI) present a less favorable reality for the national economy in the short term.

According to INEGI, Mexico’s Gross Domestic Product (GDP) showed the following indicators in the third quarter of this year:

• GDP contracted by 0.3 percent from July to September, compared to the previous quarter.
• The economy accumulated an advance of only 0.4 percent annually by the third quarter.

This growth is the lowest recorded by the country since 2020. The loss of dynamism is specifically due to the decline in industrial activity and the loss of momentum in the services sector.

The Profile of Grupo Carso

Carlos Slim Helú owns Grupo Carso, one of the largest and most important diversified conglomerates in Latin America.

Grupo Carso is composed of four divisions that have been defined as strategic:

• The commercial sector.
• The industrial sector.
• The infrastructure and construction sector.
• The energy sector.

Slim Helú also owns and leads various key companies in the national private sector:

• Grupo Sanborns
• Grupo Condumex
• Carso Infraestructura y Construcción
• Carso Energy
• Elementia Materiales
• Fortaleza Materiales
• Centro de Investigación y Desarrollo Carso

Dialogue with Other Financial Figures

In addition to the meeting with Slim and Cervantes, President Sheinbaum also held conversations with executives from the international financial sector. She met with Michael Roberts, CEO of HSBC, and Jorge Arce, general director of HSBC Mexico, with whom she discussed the “great opportunities for our country.”

The summit between the business elite and the Presidency of the Republic is a clear attempt to align narratives regarding the country’s economic direction. However, the gap between the “good forecasts” and the cold numbers from INEGI continues to widen.