| | |  Business News | September 2008 
Mexico Economy Close to Rebounding - Carstens
 Jason Lange - Reuters
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Mexico City - Mexican Finance Minister Agustin Carstens said on Tuesday Mexico's economic slowdown has almost bottomed out, and that growth should pick up during the first quarter of 2009.
"We are close to the bottom... We are close to the turn around," Carstens told Mexican television.
"We expect that starting in the first quarter of next year we will see more rigorous growth," Carstens said.
The government on Monday cut its forecast for economic growth in 2008 to 2.4 percent from 2.8 percent, citing the slowdown in the United States, its main trading partner.
Mexico sends about 80 percent of its exports to the United States, whose economy is slowing amid a downturn in its housing market and a credit market crisis.
(Editing by Walker Simon)
Mexico Government Proposes 5.7% More in Total Spending in 2009
Jens Erik Gould and Adriana Lopez Careveo - Bloomberg
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Mexico's government proposed increasing spending by 5.7 percent in its 2009 budget.
Mexico Finance Minister Agustin Carstens gave the figure during a presentation in Mexico City today. The budget assumes the economy will expand 3 percent next year, and the annual inflation rate will be 3.8 percent.
Crude oil production will be 2.75 million barrels a day in 2009, the government estimates.
To contact the reporter on this story: Jens Erik Gould in Mexico City at jgould9(at)bloomberg.net; Adriana Lopez Caraveo in Mexico City at adrianalopez(at)bloomberg.net |
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