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Exclusive-Mexico deputy Finance Minister says income from higher oil prices to pay for fuel subsidy -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Gabriel Yorio, the Mexican Deputy Finance Minister is seen in an interview at Reuters’ National Palace in Mexico City on September 9, 2020. REUTERS/Henry Romero/File Photograph

By Anthony Esposito

MEXICO CITY, (Reuters) – Mexico’s higher oil prices will bring in extra revenue that will pay for a subsidy to maintain domestic gasoline prices, Gabriel Yorio, the Mexican Deputy Finance Minister, told Reuters Friday.

Yorio explained that the annual inflation of 7.29% (in the first half March) would go up two points to above 9% within the next four months without the subsidy in an interview in his downtown Mexico City office.

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