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LatinNews Daily - 23 August 2019

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In brief: Mexican govt’ aims for budget surplus in 2020

* Mexico’s deputy finance minister, Gabriel Yorio González, has stated that the government is aiming for a budget surplus in its 2020 fiscal budget (the draft of which will be presented to congress on 8 September). Yorio points to a “fiscally prudent” and “conservative” budget that will avoid an increase in the debt-to-GDP ratio. Yorio González ruled out an increase in taxes, stating: “The president [Andrés Manuel López Obrador] has been very clear, that we are not going to increase taxes”. With tax increases ruled out, the deputy finance minister mentioned the need for other fiscal reforms. He said: “Reforms could help us raise more [taxes]”.