LatinNews Daily - 02 January 2020

In brief: Mexico on course to post lower-than-expected fiscal deficit

*Mexico’s finance ministry (SHCP) has reported that the fiscal deficit reached M$167.2bn (US$8.84bn) between January and November 2019, lower than the M$394.2bn projected in the 2019 national budget. A SHCP report submitted to the federal congress notes that the reduction in the deficit came on the back of a 0.9% year-on-year real increase in the tax take from the non-oil sector during the period and lower levels of net government spending, which came in at M$149.7bn compared with the M$149.8bn budgeted. The SHCP points out that the November fiscal results are in line with plans to post a fiscal deficit of 2.7% of GDP in 2019.