| | |  Business News | April 2009 
Mexico's Public Finances Stronger than Ever: President Calderón
 Presidencia de la República
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| "Mexico now in a better position than in the past to cope with the world economic crisis."
- President Felipe Calderón | |
London, England - Inviting British businessmen to invest in Mexico, President Felipe Calderón said that Mexico's public finances are now stronger than ever, adding that the country has undergone a profound transformation.
During his speech at the Seminar on Commerce and Investment and New Opportunities in Relations between Mexican and British firms, he said that his government is carrying out actions to transform Mexico into one of the best places for investing and doing business.
“We have solid economic bases, low inflation and interest rates, strong international reserves and an external debt that it less than 10% of the Gross Domestic Product," he explained.
“We have adopted an integral program of structural reforms that have strengthened the economy," he said.
During his State Visit to the United Kingdom, President Calderón declared that, "The current economic situation poses a major challenge for all nations but despite the enormous challenges facing us, Mexico is in a better situation now than in the past for dealing with the world economic crisis."
He declared that the banking system is stable and well capitalized, with a capitalization index of over 14%, which helps maintain credit flows in the economy, even at these difficult times.
“All these strengths have enabled Mexico to implement contra-cyclical measures for promoting the economy and mitigating the effects of the crisis in the country," added the Mexican president.
Accompanied by the Duke of Edinburgh, President Calderón reported that trade between Mexico and the United Kingdom is on the increase, adding that between 2000 and 2008, bilateral trade rose by over 80%.
He said that the United Kingdom has become the fifth largest investor in Mexico and that there are 800 British companies in Mexico.
“However, it is quite clear that this exchange does not reflect the size or importance of our economies. It is time to explore new possibilities to increase our economic relations,” he said. |
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