Mexico Senate Finance Committee Approves 2012 Income Proposal

Oct. 26 (Bloomberg) -- The Mexican Senate’s Finance Committee approved the income portion of 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 Senate, would lower the official 2012 economic growth forecast to 3.3 percent from 3.5 percent while maintaining an estimated price of $84.9 per barrel for oil exports.

On Oct. 20, the lower house passed the income portion and must approve the spending portion by Nov. 15.

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: Joshua Goodman at jgoodman19@bloomberg.net