Mexican deputies approve $344 billion USD 2014 budget

Guadalajara -
After nine hours of floor debate, Mexico's lower legislative chamber, the Cámara de Diputados, passed a 2014 federal operations budget early this morning.

By a vote of 466 to 18, with four abstentions, deputies authorized an expenditure of over four trillion pesos in fiscal 2014. At an exchange rate of 13 to 1, that represents about $343.6 billion dollars.

Over $21 billion USD will be devoted to national defense and security expenditures, an increase of 9.8% from fiscal 2013. But that sum includes many programs beyond traditional police and military operations.

Many details remain to be resolved concerning appropriations to different agencies and departments.

The Cámara de Diputados has 500 members, and is the equivalent of the United States House of Representatives.

Dec. 11 - Mexico's Chamber of Deputies wastes no time, approves PEMEX reforms
Sept. 2 - Mexico's House of Deputies passes education reforms
Apr. 7 - Mexican states will spend $1.17 billion on security in 2013
Dec. 23, 2012 - Mexico's new PRI government seeks huge increase in domestic security budget

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