MEXICO CITY: Mexico’s Finance Ministry said it expects to cut government spending next year by 4.3% as revenue slumps because of a plunge in oil prices and flagging crude production.
The government plans to trim the 2016 budget by 135 billion pesos (US$8.9bil) from the spending level planned in 2015, according to a statement from the ministry.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!