Annotations for Countries: Kenya

Excélsior reports that, in Mexico City, on Tuesday 16th of October, José López Portillo, a top economic advisor to Mexico, announced that his government, as well as the people of Mexico, would have to adopt a rigid austerity program for the fiscal year of 1974. His statement on the antiinflationary measures coincided with the report released by Mexican industrialist Juan Sánchez Navarro, on the skyrocketing of prices in petroleum-related industry.

The economic advisor Portillo stated that the increasing inflation unofficially estimated at 40% cannot be headed off, but rather its impact could only be lessened. Having just returned from a one-month trip, which included the World Monetary Convention in Nairobi and meetings in Europe and Japan, Portillo projected that Mexico's domestic economic policies will greatly resemble those employed by several European nations also facing inflation.

This from Excélsior of Mexico City.