Tuesday, March 22, 2011

Mexican Economy

is set for a strong bounce upwards, according to the BBC and the Mexican finance minister.

BBC story...

Mexico's problem of drug violence is serious but there is no evidence investors are being put off, Mexico's finance minister has said.

Ernesto Cordero told the BBC that the tourism sector also seemed unaffected by concerns over violence.

Mr Cordero, speaking in London, said that Mexico was set to continue its strong economic performance, with growth this year set for 4% to 5%.

The effect of rising oil prices on the US recovery is a key concern, he said.

The minister said that Mexico was facing and solving the problem of criminality, a reference to the drug-related violence that has seen high murder rates in some regions of the country.

"There is no evidence investment is not coming to Mexico or that investors are being put off because of violence," he said.

The drug war has undoubtedly harmed the tourism industry in many places in Mexico, including Acapulco, Mazatlan, and others. But it isn't hurting the rest of the economy strangely.

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