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Analysts Agree, Mexico’s Economy is Strong. Growth Estimates at 3.5%

Article Summary:

The Mexican economy is healthy enough to cope with the impact of the crisis in Europe and the EU recession, analysts say, and give a positive growth exception of 3.5% for 2011. A major challenge to maintain its economic forecast is to build confidence in a sector of society who have poor expectations about their employment and prosperity opportunities in Mexico.

Photo Credit: Mexico CNN

Original Article Text From Mexico CNN via Google Translate :

Mexico Is Economically Sound To Face an Eventual Crisis

The Mexican economy has to deal responsiveness adverse scenario, noted specialists in Mexico Review program.

“Mexico has good economic health,” said Paloma Anós, chief economist for Mexico and Colombia World Bank, adding that the country has few financial imbalances, so it is able to absorb the ‘shock’ of a possible global crisis .

The International Monetary Fund (IMF) predicted that the growth estimate for the Mexican economy during 2012 will be 3.5%, similar to that provided in the Fifth Report of President Felipe Calderon.

The agency also forecast that global economic growth will be 3.3%, while the outlook for the U.S. economy remains unchanged, with growth of only 1.8%.

“We have the ability to grow much by the lack of reforms, but on the other hand have stable macro feature,” said Sergio Martin, chief economist for HSBC Mexico.

Martin added that it is priority during 2012 will explore alternatives to enhance the country’s economic growth, despite the electoral monopolize the attention of citizens and the media.

“The important thing is to see the proposals, who (candidates and parties) have more efficient ideas to address the economy.”

The presidential elections will take place next July 1.

Civil society outraged
A major challenge to maintain economic forecasts aside, is to build confidence in civil society on the issue of employment, said years.

“Most social group is made up of angry young people who have no expectations and are unhappy about their opportunities.”

The specialist said that in the Davos World Economic Forum was particularly interesting discussion on how to promote inclusive growth to the unemployment problem.

Groups of protesters as the group of occupations-have among their requests reaching reforms to have an economic system that serves all sectors of society attended this meeting, attended by leaders and entrepreneurs of the highest level.

For Jose Manuel Martinez, editor of cnnexpansion.com, “the informal economy and migration is an escape valve for not considering as a major problem the lack of jobs in Mexico.”

The reporter considered that there will be four major components that will prevent the economy to achieve substantial changes: the economic downturn, the great powers in a recession, higher inflation and market volatility.

Guests at the emission transmitted by CNN in Spanish, also noted that in Mexico, the lack of structural reforms (in sectors such as energy, labor and tax), and uncertainty due to the situation facing Europe can be adverse factors for the Mexican economy.

Link to Original Article:

From Mexico CNN

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