Budget squeeze hits Mexican ports
It appears that, of the 13 ongoing port projects in Mexico, 11 are at risk of having no continuity funding available to them in the 2017 federal budget.
At present, only extension work at the ports of Veracruz and Isla del Carmen have funds allocated to them. In the case of former, it will receive $40.7m as opposed to the $50.9m this year, while the latter is to get just $16.7m, compared with $32.6m this year.
Losing out could be the major new port at Matamoros, where investment of $32.6m was allocated in the 2016 budget.
Other projects at risk include those at Coatzacoalcos, Seybaplaya, and Guaymas, for which $2.9m, $11.7m and $13.2m respectively were included in this year’s budget forecast.
Infrastructure spend by the government is being cut by 27.2% in 2017.
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