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Mexico's Carstens shrugs off impact of budget cuts

Friday, February 13, 2015

Growth in Mexico is gaining steam and will be only marginally affected by recently announced budget cuts, central bank governor Agustin Carstens said, adding the bank will revise its growth forecast next week.

Last month, Mexico's government cut its 2015 budget by nearly 3 percent after a drop in global oil prices hurt public finances. The government uses oil revenue to fund about one-third of its budget.

Source: Reuters