Mexico’s next government pledges budget surplus to calm nervous market

Economist Carlos Urzua, picked for finance minister of Mexico's new president Andres Manuel Lopez Obrador, smiles during an interview with Reuters in Mexico City
FILE PHOTO – Economist Carlos Urzua, picked for finance minister of Mexico’s new president Andres Manuel Lopez Obrador, smiles during an interview with Reuters in Mexico City, Mexico July 2, 2018. REUTERS/Ginnette Riquelme

November 27, 2018

MEXICO CITY (Reuters) – Mexico’s incoming finance minister said on Monday he will push for a larger budget surplus and announced a new deputy central bank governor, among measures intended to boost confidence after the country’s main stock index crashed to its lowest since 2014.

Carlos Urzua, set to become finance minister on December 1, said the new government will aim for a primary budget surplus of around 1 percent next year, up from the 0.7 percent surplus projected for 2018.

(Reporting by Mexico City Newsroom)

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