Mexico’s 2020 budget sees a 0.7% primary fiscal surplus

Mexican peso banknotes are pictured at a currency exchange shop in Ciudad Juarez
Mexican peso banknotes are pictured at a currency exchange shop in Ciudad Juarez, Mexico November 10, 2017. REUTERS/Jose Luis Gonzalez

September 8, 2019

MEXICO CITY (Reuters) – Mexico’s government expects a 0.7% primary fiscal surplus in its 2020 budget, a blueprint released on Sunday shows, as President Andres Manuel Lopez Obrador aims to balance spending priorities with a slowing economy.

Lopez Obrador’s second budget since winning a landslide election victory last year aims to boost spending on social welfare programs, security and state-run oil company Pemex, while at the same time eschewing new taxes or fuel price spikes.

(Reporting by Sharay Angulo and David Alire Garcia; Editing by Anthony Esposito)

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