September 8, 2019 / 11:40 PM / 7 days ago

Mexico's 2020 budget sees a 0.7% primary fiscal surplus

Mexico's Finance Minister Arturo Herrera presents the 2020 national budget to Laura Angelica Rojas, president of the Lower House of Congress, at the Congress building in Mexico City, Mexico September 8, 2019. REUTERS/Luis Cortes

MEXICO CITY (Reuters) - Mexico’s government expects a 0.7% primary fiscal surplus in its 2020 budget, a blueprint released on Sunday shows, as President Andres Manuel Lopez Obrador aims to balance spending priorities with a slowing economy.

Lopez Obrador’s second budget since winning a landslide election victory last year aims to boost spending on social welfare programs, security and state-run oil company Pemex, while at the same time eschewing new taxes or fuel price spikes.

Reporting by Sharay Angulo and David Alire Garcia; Editing by Anthony Esposito

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