December 15, 2018 / 11:54 PM / 10 months ago

Mexico's new government sees income, spending jump in first budget

MEXICO CITY, Dec 15 (Reuters) - Mexico’s new leftist government on Saturday forecast a jump in both government revenues and spending in real terms in a first budget that is being closely watched by holders of debt in Latin America’s second largest economy.

Finance Minister Carlos Urzua said income was expected to rise by 6.3 percent in real terms in 2019 compared to the sum approved in the last budget, arguing that income in 2018 was higher than budgeted, making it easier to reach the 2019 target.

He proposed an increase in spending of 6.1 percent.

Seeking to dispel fears the government would let financial discipline slip to meet social spending pledges, Urzua promised a primary budget surplus of 1 percent of gross domestic product. (Reporting by Anthony Esposito Editing by Dave Graham)

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