At a time when a number of major Latin American economies, including Brazil and Venezuela, are heading toward recession, Mexico’s economy stands out in the region for its resilience. The country is expected to maintain a solid economic performance in 2015 and beyond, with the IMF estimating GDP growth of 3% and 3.3% in 2015 and 2016, respectively.
Slow economic growth has characterised Mexico’s economic performance for much of the past decade. Taking office in December 2012, the government of Enrique Peña Nieto set out to boost Mexico’s competitiveness with a package of structural reforms affecting a number of sectors, including energy, telecommunications, tax, labour and education. The package’s most eye-catching component was a constitutional reform designed to end decades of state monopoly in the oil and gas sector and attract investment from major international oil companies. Though low oil prices and a degree of nervousness over the potential effects of monetary tightening in the US have dampened initial investor and market enthusiasm over the reforms, the outlook for the Mexican economy remains stable, with demand from the US expected to support Mexican activity, despite low domestic demand and business confidence.
Reforms and results: OBG talks to President Enrique Peña Nieto
Keys to growth: OBG talks to Angel Gurría, Secretary General, Organisation for Economic Cooperation...
Regional allies: OBG talks to Andrew Robb, Australian Minister for Trade and Investment
Streamlining procedures: OBG talks to Luis Videgaray Caso, Minister of Finance and Public Credit
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