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Mexico approves widest budget gap in four years

Thursday, November 14, 2013

Mexico’s Congress authorized the widest budget gap in four years as President Enrique Peña Nieto seeks to boost growth in the country from the slowest pace since the 2009 recession.

The lower house approved early this morning the 2014 spending plan of the budget, which calls for$343 billion in outlays.

Peña Nieto’s push for higher deficit spending next year is part of his plan to jump-start the $1.18 trillion economy by ending the state’s 75-year oil monopoly and increasing tax revenue.

Source: Bloomberg