If the oil prices go up, Mexico wins

Sat, 5 Mar 2011 | Published in Mexico's Economy, Oil

Mexico will experience a positive fiscal impact on their current account because of rising international crude prices, according to the Investment bank Merrill Lynch.

In a report issued Friday, the company said that for every $ 10 increase in oil price Mexico fiscal impact will be equivalent to 0.4% of Gross Domestic Product (GDP).

As in Venezuela, “the impact on Mexico is also high, 0.4% of GDP, as oil revenues account for about one third of total revenues of the federal government,â€