• SQUEEZE: With 60% of budget committed to fixed spending, Mexico’s Lower House will attempt to pass a spending bill on Wednesday that squeezes resources from the government’s structure -including regulatory bodies- towards President Andrés Manuel López Obrador’s signature programs.
• TARGETS: According to the latest details, the majority party in Congress, Morena, will reallocate USD 647 million (12.5 billion pesos) into López Obrador priorities like a new agroforestry program, pension program for the elderly and a pension program for people with disabilities, among others.
• IN THE BONES: “We gave a squeeze to the government’s structure. It’s already in the bones, but it was given another squeeze…Also, we revised the budget of autonomous bodies and also did a review of some other programs”, said Mario Delgado, leader of Morena in the Lower House.
• WARNING: “Concerns have arisen about the sustainability of drastic budget cuts and their potential impact on human capital and the role of some regulatory agencies and autonomous institutions”, an IMF report warned in a report earlier in November about budgetary cuts.
