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Mexicos New Government Submits Its Budget.(Knight Ridder/Tribune Business News)

Knight Ridder/Tribune Business News, December, 2000 by Case, Brendan M.

Dec. 6--MEXICO CITY--President Vicente Fox's new government sent an austere budget proposal to Congress Tuesday, using one of its first policy tests to signal fiscal moderation.

Although he criticized Mexico's previous leaders for economic timidity on his way to becoming the country's first opposition leader in decades, Mr. Fox's first economic proposal seemed to recall the orthodoxy of former President Ernesto Zedillo.

"Economic policy for 2001 is part of a medium-term strategy that will permit higher sustainable rates of economic growth, with price stability," the Finance Ministry said in a statement announcing the budget proposal. "To reach those and other goals, we recognize the importance of strengthening the economy's foundations through strict...

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