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Article: Falling oil prices could hurt Mexican economy.(The Dallas Morning News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- September 26, 2001
- Author:
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MEXICO CITY _ This nation of 100 million people depends on exports to fuel the economy, while the government depends on oil.
So, analysts are trying to decipher the effect of the recent plunge in oil prices as energy markets anticipate slackening demand.
The recent plunge in oil prices might help the world economy after the worst terrorist attacks in U.S. history, but Mexico faces a sharp drop in government revenue at a time of growing austerity.
The government receives a third of its revenue from state-owned Petroleos Mexicanos SA, or Pemex, even though manufactured goods account for most of Mexico's exports.
As benchmark oil prices ...