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LatinNews Daily - 27 October 2022
In brief: Mexico’s 2023 budget passes another hurdle
* Mexico’s federal senate has approved the draft revenue budget (Ley de Ingresos), the income side of the 2023 budget proposal, with 65 votes in favour, 44 against and two abstentions. The Ley de Ingresos, which has already been approved by the federal lower chamber, expects revenue of MS$8.29trn (US$415bn) in 2023. It is based on a GDP growth projection of 3%, an exchange rate of M$20.6/US$1, and an oil production forecast of 1.872m barrels per day (bpd). It now goes to the executive for promulgation.
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