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Calderon: Mexico’s recession ending as tourism recovers

Written by thomas · Filed Under Commercial 

July 9, 2009

thomas

Is the headline in an article in the Inter-American Dialogue’s Latin America Advisor which reports on President Felipe Calderon’s comments earlier last week at a conference in Mexico City. He stated that foreign tourism has returned to last year’s levels and hotel occupancy has almost recovered after the swine flu outbreak in April and May shook the industry. Mexican Finance Minister, Agustin Carstens, also stated at the same event, as reported by Bloomberg News, that gross domestic product could grow nearly 3 percent next year thanks to a recovery in the global economy, after plummeting 6 percent this year. Wall Street analysts suggest that Mexico’s mid-term elections, which dealt a blow to the ruling PAN party, will have some implications for pending legislation that affects the country’s economic outlook, but that the results at the polls did not necessarily derail the reform agenda.

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