* Mexico’s finance ministry (SHCP) has released a report detailing Mexico’s economic situation, public finances, and public debt within the third quarter of 2019. It shows that as a result of the slowdown in economic activity in the third quarter, the tax take has weakened and failed to reach government targets. According to the report, tax revenue was up 1% in real terms in the first nine months of the year compared to the same period of 2018, but it was MS$12.6bn (US$656.39m) below the set target. If the contributions from the state-own oil firm Pemex are included, the tax take to September was down 1.5% compared to 2018. SHCP chief economist
Alejandro Gaytán explained that the fall in the tax take came as the slowdown in economic activity in the third quarter was higher than previously anticipated, with GDP growth of only 0.1% quarter-on-quarter according to the latest official figures.
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