UPDATE 1-Mexico seeks private sector infrastructure investment as oil slump bites

03/12/15 Reuters 

Road - highway interchangeMexico’s government on Thursday urged the private sector to take a bigger role in billions of dollars worth of planned public works and the opening of the country’s energy sector, weeks after scaling back its own planned spending due to slumping oil prices. Finance Minister Luis Videgaray said he expected low crude prices to continue into next year, a development which has already dealt a major blow to a country that has long relied on oil revenues to fund around a third of the federal budget. The government last year said it planned to raise 7.7 trillion pesos ($498.74 billion) in infrastructure investment through 2018, but in late January cut its 2015 budget by nearly 3 percent and shelved a tainted $3.75 billion high-speed train tender as part of its austerity measures.

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