To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more

Kenes Rakishev promotes modern skills with robotics classes

School #174 receives a much needed donation: Kenes Rakishev grants a complete robotics class to the ...

For 10 months, Mexico has lost about 40% of oil revenues

However, other income countries only increased.

01.Dec.15 8:54 AM
By Anna Nekrasova


For 10 months, Mexico has lost about 40% of oil revenues
For 10 months, Mexico has lost about 40% of oil revenues
In the first 10 months of this year, "oil" revenues in Mexico decreased by 38%. This situation is caused by several factors. In particular, the reduction in the cost of a barrel of Mexican crude oil from 93.1 to 47.2 dollars in 2014, a reduction of oil production by 7.6% and the fall in gas prices by 33.6%.

According to the Ministry of Finance of Mexico, for the period from January to October 2015 the country received the proceeds of oil and gas in the amount of $ 9.4 billion. And it's more than a third less than last year. However, Latin American countries have increased significantly tax revenues. As compared with 2014, they increased by 28% and amounted to about 119 billion dollars.

I must say that over the past 3 years income in Mexico practically ceased to depend on the production of oil. This dependence has been reduced by almost half, despite the fact that the country is considered to be the 10th world leader in the production of "black gold".

It is noted that Mexico's income from other sources increased significantly due to the reform of the tax system, was conducted in 2013.

Back to the list

Related Information: