End of preview - This article contains approximately 156 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
LatinNews Daily - 01 November 2019
In brief: Economic slowdown impacts Mexico’s tax take
* 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.
- URUGUAY: Opposition unites behind Lacalle Pou ahead of run-off
- COLOMBIA: Students renew pressure on Duque gov’t
- In brief: Unemployment increases in Colombia
- BRAZIL: Eduardo Bolsonaro faces widespread criticism
- In brief: Unemployment stagnates, informal sectors grows in Brazil
- EL SALVADOR: Protesters demand pension reform
- In brief: budget approved in Panama
- Mexico: López Obrador continues to fight criticism over security
- In brief: Economic slowdown impacts Mexico’s tax take
- In brief: Unemployment falls in Paraguay