Mexico aims to cut spending by 4.3 percent next year

Mexico's finance ministry said it expects it will need to cut spending next year by 4.3 percent amid a recent slump in global oil prices.

The government plans to cut the 2016 budget by $8.9 billion from the 2015 budget as it foresaw an average price for Mexican crude of $55 per barrel, well below the price it has hedged oil at for this year.





Source: Reuters