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 Business News | June 2008 
Mexico Will Not Cut Gasoline Subisidies - Govt
 Jason Lange & Luis Rojas - Reuters
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Cancun, Mexico - Mexico does not plan to reduce subsidies on gasoline, Deputy Finance Minister Alejandro Werner said on Monday, even though the government faces increasing costs from soaring international oil prices.
Mexico's government is expected to spend close to $20 billion this year to subsidize prices for gasoline, diesel and domestic gas.
"This idea that the finance ministry is going to be forced to adjust (the subsidies) is not backed up by any macroeconomic variable," Werner told reporters at an event in Cancun.
(Editing by Chizu Nomiyama) |
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