Mexico: Gov't to slash public spending
- 9 years ago
On Friday, Mexican Finance Minister Luis Videgaray announced massive cuts in public spending, to the tune of US$9 billion, or 0.7 of GDP. The cuts will primary affect the state owned electricity and oil companies. In addition, transportation plans for two train lines will be cancelled. Although social programs will reportedly not be directly affected, specialists say the effects of the cutbacks will trickle down to the population. Clayton Conn reports from Mexico City. teleSUR