LatinNews Regional Monitor: Mexico - 3 July 2019

* Mexico’s government has released new figures showing that, between January and June 2019, it had saved M$113bn (US$5.93bn) as a result of reduced spending, fewer contracts, and consolidation of acquisitions, among other things. According to an official press release, Mexico’s federal electricity commission (CFE) and Mexico’s state-owned oil company Pemex accounted for over 72% of the savings, with the CFE accounting for M$45.4bn and Pemex, M$36.4bn. According to the press release one reason for Pemex’s success was due to its fight against fuel theft, a common practice in Mexico. For the CFE, reduced fuel usage was the main reason behind its ability to make savings.

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