Mexico's economy grows 5.2 percent in 2010

11:47, February 02, 2011      

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Mexican and foreign experts had said that the Mexican economy growth rate in 2010 was of 5.2 percent, a figure higher than the projection of 5.1 percent published in December, the Central Bank of Mexico (Banxico) said on Tuesday.

Banxico said in a statement that the projection for 2011 is a growth of 3.93 percent of the gross domestic product (GDP).

While for 2012 the GDP growth is expected to be of 3.99 percent.

Banxico said that it has consulted 29 groups of economic experts and consultants at national and international level, who said that the insecurity and the lack of structural reforms could be obstacles for the economy growth.

According to the factors affecting the national growth, 13 percent of the experts said that the uncertainty about the international financial situation could affect the growth, 11 percent attribute this to the weakness of the internal and external markets, and 10 percent attribute this to the factors related to the world economy.

By the end of 2011, there could be an inflation rate of 3.91 percent, and increases of 3.7 and 4.3 percent in the consumption and the private sector investment respectively.

While the consumption and investment of the public sector will increase by 2.6 and 5.3 percent respectively.

They also said that the exchange rate with the U.S. dollar in 2011 will be of 12.32 pesos.

The foreign direct investments in 2010 were about 18.8 billion dollars and by 2011 would be about 19.54 billion dollars.

Source: Xinhua
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