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Imef: Mexican economy is already in recession

Wednesday, September 18, 2013

The Mexican institute of financial executives, Imef, lowered its forecast for Mexico's growth from 2.7 to 1.7 percent this year.

The institute said the economy is already in recession, and that a proposed fiscal reform would even create obstacles to economic growth.

"Even though the recession is not serious, it could lead to a revision for this year's growth forecast," said Jonathan Heath, vice president of the Imef's economic studies committee.

Source (in Spanish): Notimex