Mexico needs “urgent” tax reform plan

Reuters, 5/18/2009

Mexico needs to quickly come up with a plan to tackle its growing fiscal problems, central bank Governor Guillermo Ortiz said on Monday, as Mexico struggles with a low tax take and sliding oil revenues.

Standard & Poor’s placed Mexico’s credit rating on review last week with an eye to a possible downgrade, citing the country’s heavy reliance on oil sales and doubts over the political will of the government to boost non-oil tax revenues despite sliding crude output.

“It is really urgent that once we are through the elections that a medium-term fiscal program be designed and passed,” central bank Governor Guillermo Ortiz said, referring to mid-term congressional elections in early July.

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One Response to Mexico needs “urgent” tax reform plan

  1. […] flu outbreak will impact the election – Implications of the 2009 midterm election for energy and fiscal reforms – Also, the Mexico Institute, in collaboration with the Inter-American Dialogue, hosted PRI […]

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