| | |  Business News | August 2008 
Mexico's 2009 Budget May Increase 5% From 2008, Lawmaker Says
 Adriana Lopez Caraveo & Thomas Black - Bloomberg
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| | Finance Minister Agustin Carstens | | |
Mexico's Congress may approve a 2009 spending plan that's 5 percent higher than this year's budget after discounting inflation, the president of the lower house finance committee said.
"It's not going to be a very big budget," Jorge Estefan Chidiac, a member of the opposition Institutional Revolutionary Party, told reporters in Mexico City today. "It will be, perhaps, 4 or 5 percent larger in real terms than this year."
Finance Minister Agustin Carstens said last week that President Felipe Calderon plans to submit a 2009 budget with a 4.5 percent increase in public spending. This year's budget was for 2.57 trillion pesos ($253.7 billion), a 9.8 percent increase in total spending after adjusting for inflation over the projected budget the previous year.
To contact the reporters on this story: Adriana Lopez Caraveo in Mexico City at adrianalopez(at)bloomberg.net and Thomas Black in Monterrey at tblack(at)bloomberg.net |
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