Bloomberg News

Mexico’s PRI to Propose Raising Deficit to 0.4% of GDP From 0.2%

October 19, 2011

Oct. 19 (Bloomberg) -- Mexico’s Institutional Revolutionary Party will propose changes to next year’s budget initiative including raising the nation’s deficit to 0.4 percent of gross domestic product from the 0.2 percent proposed by the government.

The PRI, as the nation’s largest opposition party is known, seeks to change the forecast for 2012 economic growth to 3.3 percent from 3.5 percent, said lawmaker Jorge Juraidini in Mexico City today. The party will propose changing the 2012 peso exchange rate forecast to 12.8 pesos per U.S. dollar from 12.2 pesos while maintaining the forecast for an average price of $84.9 per barrel for Mexican oil exports, he said.

To contact the reporter on this story: Adriana Lopez Caraveo in Mexico City at adrianalopez@bloomberg.net

To contact the editor responsible for this story: Jonathan Roeder at jroeder@bloomberg.net


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