Economics: Public Finance in the Wake of Cuts

MEXICO - Report 11 Feb 2015 by Mauricio González and Ernesto Cervera
Executive Summary During the last week of January the authorities released public finance data as of December 2014. Tax revenues remained strong and there was no major expansion of public spending, so the public deficit came in below what the Ministry of Finance had anticipated in the general economic criteria text that accompanied the 2015 budget. The 547.2 billion peso budgetary deficit reported for the year was more than 73 billion pesos below the 620.4 billion peso deficit that had been projected Minister of Finance Luis Videgaray announced a 124.30 billion peso spending cut, which repr...

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