Mexican president cuts his pay amid recession

MEXICO CITY - Mexican President Felipe Calderon on Friday signed a decree to cut his own pay and that of top government officials by 10 percent.
The move came as Mexico's economy, the second largest in Latin America after Brazil, officially entered a recession in the first quarter, while its gross domestic product (GDP) dropped to a historical low of 10.3 percent in the second quarter, according to Central Bank data.

Mexican president cuts his pay amid recession
Calderon makes 11,300 dollars per month, while his cabinet chief is paid 11,100 dollars, according to government data.
The cuts will also be applied to ministers and state secretaries, senior officials and military unit commanders. No minister, officer or other government official will be permitted to make a salary greater than that of the president.
"A salary must be used to live with dignity but not be seen as a booty," Calderon said.
The finance minister, contacted by AFP, did not give a final figure for the salary reductions.

Saturday, August 22nd 2009

New comment:

News | Politics | Culture | Education | Interview | Features | Arts | Media | Science I Tech | Entertainment | Society | Travel | Sport