Mexico slashes federal budget by $8.3 billion
Monday, February 2, 2015
Faced with declining prices for its oil exports, Mexico’s government announced $8.3 billion in budget cuts, slashing the budget of the state oil company.
It also effectively canceled a bullet train project at the center of a conflict-of-interest scandal that has weakened Enrique Peña Nieto’s presidency.
Source: New York Times