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Mexico sticks with 2.7 percent growth forecast

Thursday, June 12, 2014

Mexican Finance Minister Luis Videgaray stood by his government's recently downgraded economic growth forecast for 2014, saying activity is picking up, aided by signs of strength in the United States.

Videgaray said the gross domestic product projection of 2.7 percent implies an accelerated growth rate for the rest of the year.

Last month the government cut its estimate for annual growth in 2014 from 3.9 percent, and last week the central bank cut its benchmark interest rate to a record low in a bid to boost activity.

Source: Reuters