EL PASO: Although the Mexican economy is growing relatively slowly when compared to average growth during the past two decades, a reduction in corruption and historically low inflation bode well for the future of the country.
“Mexico forecasts growth of 1.7 percent to 2.5 percent this year and 2.5 to 3.5 in 2016,” said Manuel Sanchez Gonzalez, vice-governor of the Bank of Mexico (BOM). Sanchez Gonzalez presented his outlook for the Mexican economy September 10, kicking off the annual Centennial Lecture series at the University of,Texas at El Paso.
Sanchez Gonzalez told an audience of students and faculty that he expects Mexican exports to rebound soon along with the depreciation of the peso. He also emphasized the importance for the Mexican economy of the cross-country trade with the U.S. particularly in this border region.
The education that Mexican students receive in U.S. universities also helps the Mexican economy and insures a prosperous future for Mexico, Sanchez Gonzalez said. ”Although many students choose to stay here, we also have many who leave to come to school but come back with their degrees and get careers and naturally that helps the economy.”
Sanchez Gonzalez was appointed vice-governor of Banco de Mexico by former Mexican president Felipe Calderon. and Sanchez Gonzalez has continued with his position through the presidency of Enrique Peña Nieto.
His role as vice-governor has taken him through tough economic times, but he is adamant about the strength of the economy now. He credits a lot of the economy’s strength to the trade with the United States. He also contributes much of the economy to the mining industry as well as many other natural resources that the country has used to establish its economic base.
This lecture is one of six in UTEP’s Centennial series. Although four of the six lectures are brought in part by the El Paso branch of the Federal Reserve Bank in Dallas, not all will deal with economics. Topics will range from the border to arts and novelist.
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