With the necessary structural changes to encourage investment and development in key sectors, Mexico\u00e2\u20ac\u2122s economy has the potential to grow by 6 percent annually, according to Agustin Carstens, governor of the Bank of Mexico.<\/p>\n
However, given recent international complications like the European debt crisis and weak economic growth in the United States, Carstens recently predicted Mexico will see a \u00e2\u20ac\u0153relatively high\u00e2\u20ac\ufffd economic growth rate of 3.5 percent for the next several years.<\/p>\n
\u00e2\u20ac\u0153We expect only a slight boost from the world economy,\u00e2\u20ac\ufffd Carstens told a meeting at Mexico\u00e2\u20ac\u2122s Ministry of Foreign Affairs. While he warned that Mexico will do better than many of its international counterparts, 3.5 percent growth is not enough to generate the jobs Mexico needs.<\/p>\n
According to Julio Hernandez, U.S. Grains Council director in Mexico, two big questions right now are the extent of growth Mexico’s economy will actually see and the effect this will have on Mexico\u00e2\u20ac\u2122s demand for U.S. grains. \u00e2\u20ac\u0153We want to continue to see steady funding in capital and labor to ensure Mexico\u00e2\u20ac\u2122s infrastructure systems remains as strong and efficient as possible,\u00e2\u20ac\ufffd Hernandez commented.<\/p>\n
Based on USDA\u00e2\u20ac\u2122s long-term agricultural projections released this week, Mexico\u00e2\u20ac\u2122s corn imports will grow to 15 million metric tons (590 million bushels) in 2021, the second biggest growth market behind China.<\/p>\n","protected":false},"excerpt":{"rendered":"
With the necessary structural changes to encourage investment and development in key sectors, Mexico\u00e2\u20ac\u2122s economy has the potential to grow by 6 percent annually, according to Agustin Carstens, governor of the Bank of Mexico. However, given recent international complications like the European debt crisis and weak economic growth in the United States, Carstens recently predicted … <\/p>\n