Ortiz: tax increase won’t hurt economic recovery

Speaking at the IMF meetings in Istanbul, Banco de México president Guillermo Ortiz backed the government’s proposed tax package. Ortiz said that the tax increase was needed to bridge the fiscal gap and would not hurt the economic recovery. He called on the Congress to act “with responsibility” to keep public finances sound. Private sector groups, including the umbrella CCE business group and the American Chamber of Commerce continued to attack the proposals, saying they would hurt investment. (Universal 10/8, Reforma 10/12)

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