Mexico Reports 204.5 Billion Peso Budget Deficit Through Nov.
Mexico had a budget deficit of 204.5 billion pesos from the beginning of the year through November, the Finance Ministry said in an e-mailed statement today.
Excluding investment in state oil company Petroleos Mexicanos, the nation posted a surplus of 51.9 billion pesos.
Mexico’s government approved a 3.96 trillion-peso budget for next year with no deficit when investment in Petroleos Mexicanos is excluded. This year’s approved deficit was 0.4 percent of gross domestic product. The spending portion of the budget was published in the official gazette yesterday.
The nation’s debt is forecast to reach 37.5 percent of gross domestic product this year and is expected to decline to 37 percent next year, Miguel Messmacher, the deputy finance minister for revenue, said in a Dec. 7 interview.
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