May 15, 2019 / 6:40 PM / 8 days ago

Impact of below 1% on federal debt/GDP ratio from Mexico's new oil refinery

MEXICO CITY, May 15 (Reuters) - Mexican ratings agency HR Ratings on Wednesday forecast an impact of below 1% on the ratio of Mexico’s federal debt to gross domestic product (GDP) derived from the cost of building the new Dos Bocas oil refinery.

Other ratings agencies and investors have expressed concern that the refinery, due to be built by state oil firm Pemex, will damage the nation’s finances and could run well past the $8 billion Mexican President Andres Manuel Lopez Obrador says it will cost. (Reporting by Anthony Esposito; Editing by Frank Jack Daniel)

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