Economics: Cuts, Not Fires, Threaten Revenues

MEXICO - Report 21 Apr 2015 by Mauricio Gonzalez and Ernesto Cervera
Executive Summary On the last day of March, the Ministry of Finance sent the Mexican Congress a document entitled “2015 Economic Policy Pre-criteria” that offers an analysis of the current state of the economy. It also updates the macroeconomic framework anticipated for 2015-2016 and the way in which the government expects the changing situation to affect public finance. The shortfall in crude oil production relative to what had originally been anticipated (from 2.40 million to 2.29 million barrels daily at the end of March), weakened international oil prices, dollar appreciation against th...

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