Latinnews Daily - 27 October 2017

* Mexico’s 128-member federal senate has approved the income side of the 2018 draft federal budget for M$5.28trn (US$275bn). The initiative was approved with 90 votes in favour to 29 against. Senators have agreed to increase oil price assumptions in the fiscal plan to US$48.50 per barrel (/b), up from US$47/b, and the exchange rate to M$18.4/US$1, up from M$18.1/US$1, thus providing an additional M$43.23bn to the total budget. This increases the funds available for reconstruction efforts following the deadly earthquakes to hit Mexico last month.

End of preview - This article contains approximately 102 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial