Risk of Jobs Loss with VAT Increase (LaCronica, 9/11/12, by Yerson Martinez)

MEXICALI, BC - From 25 to 30% of those employed at the border run the risk of being unemployed if the rumor of an approved increase of the VAT materializes, Senators told the media, which led to reactions in the business sector.

Angel Záizar Prado, President of the Coordinating Council business (ECB) said they are "concerned about the lack of sensitivity to the fiscal and economic impact. It is much more than 5% or 9% they are talking about for Mexico. This is not the case in Europe, where all pay taxes. Here more than 50% of citizens don't pay taxes".

He added, "It is a load upon the same who already pay taxes. The incoming Government must take care of the situation. The people we are tired of always providing and they contribute nothing".

Prado Záizar stated that the issue is delicate and yesterday met with ECB Presidents at the State level and State economic advisers. He also contacted his counterparts in Chihuahua and today he will do the same in Sonora.

"We have not seen significant reductions in their budgets, expenses or structure of the Government, as they ask us. We continue tightening the belt. On the northern border, there are those who pay more taxes per capita. We are a little exhausted with an inability to plan... they use the employed citizens", he said.

Finally, the Mexicali President of the ECB emphasized they will seek a meeting with the President elect Enrique Peña Nieto’s transition team. "We are organizing as a border to seriously talk about it", he said. http://www.lacronica.com/EdicionEnLinea/Notas/Noticias/11092012/621438.aspx

Dollar Falls Below 13.00 Pesos (La Cronica, 9/11/12 by Mercedes Ortiz)

MEXICALI, BC - The U.S. dollar started the day selling below 13.00 pesos at banks and exchange houses. The purchase price saw slight changes. In some exchange centers, the dollar continued without significant change. The purchase price is listed as 12.75 pesos, and the sale price is listed at 12.90, the same price as yesterday. On the website http://www.banamex.com.mx, the purchase price was listed on 12.68 pesos and on sale at 13.18 on average, eight cents more than yesterday’s price. On the Internet page www.santander.com.mx, the dollar purchase price is quoted as 12.68 pesos and the sale price is 13.18, eight cents more than yesterday. http://www.lacronica.com/EdicionEnLinea/Notas/Noticias/11092012/621406.aspx


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