Mexico City, Mexico - This month, Mexican President Enrique Peña Nieto is reportedly planning to debut a private jet which is valued at roughly $580 million dollars. This would make it the most expensive plane of its kind - more costly than planes belonging to presidents of the United States, China, Russia, or Germany.

It is indeed a flying palace: the Boeing jet has twin aisles and can carry up to 250 passengers at a speed of nearly a thousand miles per hour. It is capable of making the New York-Athens or Tokyo-Los Angeles routes without stop-overs.

Mexicans have expressed their indignation at the extravagant purchase, but what few realize is that the process of purchasing the plane was initiated by Mexico's previous president, Felipe Calderon. All told, it will cost tax payers over $7.5 billion pesos, plus another billion pesos for the "Presidential Hangar" in the Mexico City airport.

The plan to buy the new presidential plane emerged at the end of the Calderon presidency, however, the purchase has been well hidden from the Mexican population and with good reason - the Boeing 787 Dreamliner is an incredible expense as it's costs have soared beyond budget. The final cost will be 350 percent higher than the expected cost for the jet, a cost shared between Calderon and Peña Nieto.

The delivery of the aircraft, which has a lifespan of only 25 years, is scheduled for the 30th of this month at Boeing facilities in Washington.