Mexico steps up austerity plans in 2017 budget

09/09/16 Financial Times 

16420985927_db14e9dfc7_oJosé Antonio Meade, Mexico’s new finance minister, has ramped up the country’s two-year-old austerity drive in his 2017 budget, pledging spending cuts and a return to a primary surplus for the first time since 2008.

The 2017 cuts add up to almost 240bn pesos ($12.9bn), well above the 169bn pesos in belt-tightening already announced for this year, and cuts of 124bn pesos last year.

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