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Pablo Soria de Lachica Describes Mexican Budget Plans For 2017

A challenging external environment, including global oil slump, a tightening of monetary policy in the United States, and a slowdown of growth perspectives in emerging market economies (like China, Brazil, and Russia) has significantly battered Mexican peso causing the country to reduce government spending. Pablo Soria de Lachica, a published expert in international trading and business analyst, gives insights into Mexico’s budget plans for the upcoming fiscal year. When oil prices tumbled in 2014, Mexican government decided to open up its state-run oil and gas industry to private sector investment hoping to encourage foreign expertise and capital flow to develop new fields of crude oil and gas. Many believed the new reforms to stimulate liberalization of the petroleum industry and boost the country’s economy by doubling the share of foreign investment in Mexico. However, earlier this year the finance ministry…