Bloomberg News

Mexico Congress Finance Committee Approves 2012 Budget Proposal

October 20, 2011

Oct. 19 (Bloomberg) -- The Finance Committee in Mexico’s lower house of Congress approved an initiative for the 2012 budget that would raise the nation’s deficit to 0.4 percent of gross domestic product from the government’s initial proposal of 0.2 percent.

The bill, which will now go to the floor of the lower house, would lower the official forecast for Mexico’s 2012 economic growth to 3.3 percent from 3.5 percent while maintaining an estimated price of $84.9 per barrel for oil exports.

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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