Mexico Cuts Spending By $8.4 Billion Due To Oil Price Drop

NewsOK.com RSS - business, Daily Oklahoman: Business
Fri, 01/30/2015 - 10:34am

MEXICO CITY (AP) — Mexico will cut government spending by $8.4 billion this year because of a drop in revenues due to declining oil prices. Finance Minister Luis Videgaray also said Friday the government will put on hold plans to build a high-speed rail project that has been marred by allegations of favoritism. Mexico has seen prices for its oil fall in recent months from around $100 to $38.42 per barrel.Read more on NewsOK.com

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