Mexican FinMin Says 5 Percent Growth Attainable

Rapid growth, a manufacturing boom and key industries opening up to foreign involvement put Mexico in a position to be this decade’s China in terms of investment opportunity.
Even the Federal Reserve’s diminished stimulus program isn’t denting enthusiasm south of the U.S. border.

“The fact that the tapering is happening means that the U.S. economy is recovering, and that’s very good news for Mexico,” which sends 80 percent of its exports to the U.S., Mexican Finance Minister Luis Videgaray told CNBC in an interview.

“We can deal with that challenge as long as U.S. growth is more robust,” he said, citing the Mexican peso’s outperformance relative to other hard-hit emerging market currencies, including those of Turkey, Indonesia and Brazil, as evidence that most investors generally feel the same way.

via CNBC

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