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LatinNews Regional Monitor: Mexico - 09 September 2019

In brief: Gov’t presents Mexico’s 2020 budget proposal

* Mexico’s finance minister Arturo Herrera Gutiérrez has presented the 2020 draft fiscal budget to the federal chamber of deputies. Under the proposed budget, total spending would increase to M$6.06trn (US$309.97bn), a 4.4% increase in nominal terms from this year's budget (and 0.8% in real terms). The budget is based on GDP growth forecasts of 0.6%-1.2% and 1.5%-2.5% for 2019 and 2020 respectively. Declared priorities include security, social welfare, and Mexico’s state-owned petroleum company Pemex. Herrera Gutiérrez noted that fundamental objectives of the budget are to: “generate macroeconomic stability, financial certainty and strict compliance with fiscal discipline”.

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