Mexico Finance Minister Luis Videgaray is doubling down on his pledge to send Congress a 2017 budget with a primary surplus next month, saying the government needs to make good on its promise because its credibility is constantly being tested.
Speaking in his office in Mexico City’s 16th century National Palace on Thursday Aug. 18, Videgaray told Bloomberg the nation needs to restore fiscal balance after eight years of budget deficits since the 2008 global financial crisis.
Selloffs this year in Mexico’s currency have forced policy makers to respond with interest-rate increases and spending cuts to reassure investors about the nation’s economic management, protect it against inflation and prevent further market instability. Traders often use the peso, the most actively-traded currency in emerging markets, to hedge against other risks, which in turn makes the currency more vulnerable to price swings.
To read complete article click here.
more recommended stories
Valladolid is awaiting more tourists in the coming months
“Events like the Gastroonomic fair, the.
Real estate sector in Mexico forsees slow growth in 2019
2019 begins and several factors, including.
Don Antonio Marín quintessential Merida’s Master of Ceremonies dies at 85
On Wednesday January 16, 85-year-old professor.
Death toll reaches 85 in HIdalgo’s fuel pipeline fire
TLAHUELILPAN, Mexico (AP) — People in.
Sustainable, self sufficient supply of water for the Tourism Industry in the Yucatan
Water scarcity is growing globally with.
Machinery catches fire in Progreso’s plastics factory
A plastic melting machine caught fire.
Yucatan and New York, united by Jazz
With the aim of spreading rhythms.
Yucatecan child will receive medical attention in the US
A 3 year-old child from the.
Aeroméxico and Aeroflot sign a codeshare agreement
Mexico, January 16 (Notimex).- Aeromexico informed.
Oxford Analytica says closing Pemex pipelines an “unsustainable” way to fight fuel theft
Closing Pemex pipelines is an unsustainable.