July 29, 2019 / 11:11 PM / 4 months ago

Mexico will ready $25 billion to boost infrastructure, investment - finance minister

MEXICO CITY, July 29 (Reuters) - Mexican Finance Minister Arturo Herrera said on Monday that the government would ready more than $25 billion to boost infrastructure, investment and private consumption in Latin America’s second-largest economy.

That figure includes credits, accelarated spending of already budgeted funds and money tapped from an infrastructure fund, officials said.

“We have decided on actions that would mobilize 485 billion pesos that would allow us to boost the creation of infrastructure projects, incentivize infrastructure investment and private consumption,” Herrera said at a press conference.

Herrera said Mexico’s government would accelerate spending in 2019 and bring purchases of goods and services that had been scheduled for 2020 forward, actions that he said would have an immediate effect. (Reporting by Anthony Esposito; writing by Stefanie Eschenbacher)

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