Mexican economy to grow 4.5 pct or more in 2012

Xinhua, 3/7/12

Mexico’s economy may grow at least 4.5 percent in 2012 and may surpass 5 percent thanks to the spending boom caused by the country’s presidential election campaign, an analyst said.

“I believe that even if we are using a conservative forecast we are going to see the economy grow by at least 4.5 percent, and it is very likely it could be even higher and grow more than 5 percent,” Alfredo Coutino, chief Latin America economist for Moody’s, told Xinhua in an exclusive interview on Monday. “The Mexican economy is going to be better this year, both because the U.S. is recovering in a much better way than anticipated, and also because the economy is benefiting from the political spending,” Coutino said.

Moody’s forecast is significantly better than a growth of 3 to 4 percent projected by other financial experts, a view which has been supported by Mexico’s central bank.

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