Mexico’s Lower House Approves Spending Portion of 2011 Budget
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Mexico’s lower house of Congress approved the 2011 budget today with a smaller deficit and a spending increase of 8.2 percent in nominal terms compared with this year.
The lower house voted 454 to 13 in favor of the spending portion of the budget, which calls for 3.44 trillion pesos ($280 billion) in outlays. Lawmakers modified the total spending of 3.35 trillion pesos proposed by President Felipe Calderon on Sept. 8.