Mexico Adopts $17/B Oil Price Assumption For 2003 Budget
Luis Pazos, the president of the Mexican congressional budget committee, has announced what he called a prudent oil price assumption of $17/B for the countrys 2003 budget. The government faces mid-term congressional elections scheduled for July next year and is therefore keen to avoid the possibility of having to introduce spending cuts by avoiding spending promises it cannot keep. The fall in oil...
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