Mexican Congress Completes 2014 Budget Approval Reuters
go to original November 14, 2013

MEXICO CITY - Mexico's lower house of Congress early on Thursday passed the federal spending plan for next year, completing approval for the budget, which proposes running a deficit in 2014 to lift the country's struggling economy.

The budget for 2014 foresees additional tax revenues worth just over 1 percent of gross domestic product (GDP) as it includes a package of fiscal measures the government hopes will increase the tax take by around 2.5 percent of GDP by 2018.

The almost 4.5 trillion peso ($343.11 billion) budget now passes to President Enrique Pena Nieto for approval. That is expected to be a formality.

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