However, the medium and long term are full of challenges, such as underemployment, poverty and inequality, raises Juan Carlos Moreno-Brid, deputy director of Cepal (ECLAC) in our country.
Mexico City • Although gross domestic product of Mexico is expected to see a growth of 3 percent for 2012, the economy and the country has many tools that account for its stability, said Deputy Director of the Subregional Headquarters in Mexico of the Economic Commission for Latin America and the Caribbean (ECLAC) or Cepal in Spanish”, Juan Carlos Moreno-Brid.
In passing the conference “The Mexican economy and the international financial crisis” in the framework of the meeting “The IPN to the future: prospective investigation,” the official stated that these tools ECLAC are: inflation and core- low fiscal deficit, exchange rate flexible, low interest rates, public debt with high headroom and reserves on the rise.
In a statement, said that with the instruments that give stability to the economy can cope with emergencies in the short term but the medium and long term are full of challenges that must be addressed to stimulate growth.
He said that despite Mexico’s economic model changing in it’s favor , one aspect that negatively impact is the fact that tax revenues are very low because there is a huge dependence on oil.
Another aspect considered crucial Moreno-Brid , to revive Mexico’s economy is investment (machinery, roads, infrastructure, equipment, plants). Mexico’s total investment is below the peak that was before the crisis and this aspect should also be reversed, he said.
Added to this, he said the level of the development gap between the U.S. and Mexico is similar to that which existed in 1950.
“Mexico has a history of economic stagnation for 30 years and although it has recovered from the recent crisis, public finance, debt and deficits that are similar to those recorded in 2008,” he said.
Moreno-Brid stated that it is hard to believe that developed nations are going to save the developing economies, because they too are immersed in the crisis.
“While the good news is that Mexico is out of the difficult situation we are now entering again a slowdown in the European Union , We will have to wait and see which countries enter a recession and when and how this will affect the situation in emerging countries, “he said.
