Mexican President Peña Nieto unveiled a $2 billion public works program which
he said would spur economic growth during the rest of 2013.
The president said that because of the slowdown in the country’s economy during the first half of the year, “we’re faced with the need to accelerate public spending.”
Nieto made his comments in a meeting with México’s 31 state governors. He said the additional $2 billion would be invested in three programs designed to have a “very positive impact” on the country’s economic performance.
One of the programs will invest $994 million in public works programs, such as road-paving and infrastructure investments.
An equal amount will provide loan support for the country’s housing sector. The balance will be used to boost lending to businesses via development banks.
Peña Nieto said México’s current level of public indebtedness gives the government “the space to apply immediate reactive measures involving a moderate, manageable and, above all, temporary budget deficit.”
(from Latin American Herald Tribune)
The president said that because of the slowdown in the country’s economy during the first half of the year, “we’re faced with the need to accelerate public spending.”
Nieto made his comments in a meeting with México’s 31 state governors. He said the additional $2 billion would be invested in three programs designed to have a “very positive impact” on the country’s economic performance.
One of the programs will invest $994 million in public works programs, such as road-paving and infrastructure investments.
An equal amount will provide loan support for the country’s housing sector. The balance will be used to boost lending to businesses via development banks.
Peña Nieto said México’s current level of public indebtedness gives the government “the space to apply immediate reactive measures involving a moderate, manageable and, above all, temporary budget deficit.”
(from Latin American Herald Tribune)
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