2014 Budget: More of the Same

MEXICO - Report 27 Nov 2013 by Mauricio González and Ernesto Cervera

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Executive Summary The Chamber of Deputies approved a final expenditure law for 2014 that contained few surprises or major changes from the original draft of the spending bill proposed by the administration of President Enrique Peña Nieto. The scant changes that were introduced were largely designed to square spending with the final version of the revenue law Congress passed earlier this session. In fact, the lower chamber of Congress reallocated a mere 64.2 billion pesos, or just 1.4% of total spending authorized for next year. The limited extent to which Congress was able to tinker with th...