Tallying Up the Losses

Agustín Carstens says the flu will cost Mexico about $2.2 billion in economic losses, and estimated that the GDP will slip in the second quarter by about half a point more than expected as a result.  To counter the losses, Carstens announced fiscal programs that will offer around $1.3 billion in relief to Mexican businesses. Among the schemes are a reduction in the monthly social security tax (the saving will be capped at about $25,000 per business so that small businesses receive the most support) and a reduction in the monthly tax on business profits.