MEXICO CITY, Oct 16 (Reuters) - Mexico’s lower house on Thursday gave general approval to the income side of budget legislation for 2015 that would slightly lower the estimated oil price while factoring in a weaker exchange rate for the peso.
Lawmakers in the lower chamber voted 427 in favor and 35 against the bill, which fixes the forecast price for a Mexican barrel of crude next year to $81, below the $82 per barrel in a government proposal.
The details of the legislation will be voted on through Thursday night. Once the bill is finally passed it will be sent to the Senate for debate and approval ahead of a Oct. 31 deadline. A spending bill must be approved by the lower house by Nov. 15. (Reporting by Noe Torres; Writing by Christine Murray; Editing by Simon Gardner and Diane Craft)