Brexit: Mexico cuts public expenses by 1.68 billion dollars

Mexico's Finance Minister, Luis Videgaray, announced a new reduction in public expenses for 1.68 billion dollars, after the commotion caused by the Brexit, in Mexico and the rest of the world.

During a press conference at the National Palace, Videgaray said that this reduction does not affect the operations of national oil company Petróleos Mexicanos.

He added that the departure of Great Britain from the European Union will not cause an impact on the commercial balance.

"Mexico will respond to this like it has always done, reinforcing its macroeconomic fundamentals, acting with responsibility on fiscal matters," he said.

Videgaray added that the Mexican government has covered its funding necessities for the year in a 100 per cent.