MEXICO |
Primary fiscal surplus. The government posted a primary fiscal surplus of M$495.8bn (US$26.55bn) in the first quarter of the year, a 76% increase on the surplus registered in the first quarter of 2016, Mexico’s federal finance ministry (SHCP) reported on 30 May. The first quarter primary surplus is M$447.5bn higher than projected thanks to an 8.2% increase in government revenue and to the windfall transfer of M$321.65bn in surplus funds allocated in the 2016 national budget to the central bank (Banxico) back to the central government.
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