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Mexico Posts Budget Deficit Through August of 167 Bln Pesos

Mexico had a budget deficit of 167.1 billion pesos from the beginning of the year through August, the Finance Ministry said in an e-mailed statement today.

Excluding investment in state oil company Petroleos Mexicanos, the nation posted a surplus over the period of 1.1 billion pesos.

Mexico’s government debt will equal 42.9 percent of its gross domestic product this year, versus 90 percent for the euro area, according to International Monetary Fund projections.

Latin America’s second-biggest economy will expand 3.8 percent this year, compared with 1.7 percent for Brazil and 2.2 percent for the U.S., according to the median estimates of economists surveyed by Bloomberg.

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