Mexico posts 300 mln peso fiscal deficit in August

Sep 28, 2007 - Mexico posted a fiscal deficit of 300 million pesos ($27.4 million) in August compared with a surplus the month before, the government said on Friday.

Budgeted income rose 9 percent over the year-ago period, mostly because of a 9.5 percent rise in tax income unrelated to oil sales, the government said.

Spending in August jumped 29.3 percent in real terms, with more money handed out for pensions, as well as investment in state-oil firm Pemex and agriculture.

In July, the government posted a fiscal surplus of 15.7 billion pesos.