1996-12-05 Local Press - PRI Representatives Protest

Article Index

PRI Representatives Protest Economic Policy

A group of PRI legislators in the House of Representatives severely criticized the government's proposed budget for 1997, arguing that it "is an adjustment strategy in which public spending favors privileged sectors and leaves the most needy social groups unprotected." In an eleven page analysis, the rebellious PRI representatives noted that "the economic strategy of the country -beginning with the federal budget- must be inclusive and mutually agreed to, reaching out to all social groups and political parties in the country." (La Jornada, 2 December).

Debt Payments Put State Funding in Jeopardy in 1997

 During 1997, Mexico will pay N$119.7 billion (about $1.5 billion) to pay the interest and commission on its foreign and domestic debt. The domestic debt will be a problem for state governments, because they will be forced to pay out at least 20 percent of their payments from the federal government in debt payments. The resources needed to cover the cost of the public debt in 1997 will be 33.7 percent greater than in 1996 (12 percent in real terms). With respect to the foreign debt, the government's payments will increase from N$44.55 billion in 1996 to N$51.85 billion in 1997. (La Jornada, 29 November).