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LatinNews Daily - 06 November 2020
In brief: Revenue side of Mexico’s 2021 budget approved
* Mexico’s federal chamber of deputies has given final approval to the revenue side of the draft 2021 national budget submitted to congress by the government led by President Andrés Manuel López Obrador. The approved bill contemplates that the federal government is to raise M$6.3trn (US$303bn) in total revenue next year, to finance its spending. It was approved without any modifications by the chamber, controlled by the ruling Movimiento Regeneración Nacional (Morena) party, despite calls made by the opposition for some adjustments to the proposals. The López Obrador administration’s goal is to have a balanced budget with no deficit. In order to achieve this, the expenditure side of the budget – which must be approved before the 15 November legal deadline – must match the projected revenue figure.
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