Mexican government announces budget cuts due to drop in oil prices

teleSUR English 2015-02-01

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Mexican Finance Minister Luis Videgaray reported that the almost 40% drop in international oil prices has forced President Enrique Peña Nieto's administration to adjust public spending for the next few months. This would include cancellation of a high-speed train from Mexico City to Queretaro. Authorities said the cuts will not affect expected economic growth, but experts question this optimism. teleSUR

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