| | |  Business News | December 2008 
Mexico Posts 13.5 Bln Peso Fiscal Surplus in Nov
 Noel Randewich - Reuters
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Mexico City - Mexico posted a fiscal surplus (MXPUFI=ECI) of 13.505 billion pesos ($980 million) in November, narrowing from the surplus of 78.372 billion pesos posted in October, the government said on this week.
The accumulated surplus for the first 11 months of the year totaled 231.7 billion pesos.
The government, which depends on oil income for more than a third of its fiscal revenues, is aiming to balance the budget this year. High oil prices have helped keep a drop in crude output from denting fiscal income for much of the year although prices have fallen in recent months.
Revenues from state oil monopoly Pemex totaled 30.097 billion pesos in November compared to 29.292 billion pesos in the same month a year earlier.
Collections of income tax, including a new alternative minimum income tax for companies that was part of a fiscal reform plan approved by Congress last year, rose 12.6 percent in January through November compared to the year-ago period. ($1=13.78 Mexican pesos)
(Editing by Gary Crosse) |
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