The Mexican Senate on Thursday approved part of the country’s budget for 2018, raising the assumptions for oil prices and the exchange rate, a move that will help increase fund allocations for reconstruction after two devastating earthquakes last month.
The legislators agreed to raise oil price assumptions in the fiscal plan to $48.50 per barrel from $46, and the exchange rate to 18.4 pesos per dollar from 18.1, a legislative source said.
The changes added 43.29 billion pesos ($2.25 billion) to the total budget, the source said, increasing the funds that would be available . . .
