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The Mexican government's plan to run up the biggest budget deficit in decades during the 2024 general election year could put pressure on public finances and eventually threaten its credit rating, analysts said on Monday. In its budget plan, the government on Friday forecast the deficit would widen from 3.3% of gross domestic product (GDP) this year to 4.9% next year as the country gears up to elect a successor to President Andres Manuel Lopez Obrador. Much of the added spending will cover bigge
The Mexican government's plan to run up the biggest budget deficit in decades during the 2024 general election year could put pressure on public finances and eventually threaten its credit rating, analysts said on Monday. In its budget plan, the government on Friday forecast the deficit would widen from 3.3% of gross domestic product (GDP) this year to 4.9% next year as the country gears up to elect a successor to President Andres Manuel Lopez Obrador. Much of the added spending will cover bigger outlays on social programs and funding for Lopez Obrador's flagship infrastructure projects, in particular the so-called Mayan Train, a major new railway in southeastern Mexico.
By Dave Graham MEXICO CITY (Reuters) - The Mexican central bank's battle with inflation has underscored its autonomy as board members defy pressure fr.
By Reuters Staff
(Adds details, input from central bank)
MEXICO CITY, Dec 11 (Reuters) - A senior member of Mexico’s ruling party on Friday urged the lower house of Congress to suspend debate until next year on a financial bill that has alarmed the central bank, with lawmakers set to make a decision early next week.
Mexico’s Senate on Wednesday passed the draft law that would make the Bank of Mexico (Banxico) buy up foreign cash that cannot be returned to its country of origin by commercial banks.
The Senate’s approval of the law, which was pitched by President Andres Manuel Lopez Obrador’s National Regeneration Movement (MORENA), met with strong pushback from the central bank due to the apparent risks it harbors.