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Mexico & Nafta - October 2016 (ISSN 1741-444X)
Parties join battle over 2017 budget
At the beginning of September the newly appointed finance minister, José Antonio Meade Kuribreña, presented the draft 2017national budget to the federal congress, delivering the difficult message that Mexico must face its third successive year of fiscal austerity. The combination of persistently low international oil prices, uncertainty over the US elections, a weakening domestic currency, and higher interest rates all point to difficult times for Mexico’s economy. The budget proposals also face domestic political headwinds: the minister will have to work hard to get congressional approval.
