| | |  News Around the Republic of Mexico | November 2009 
Mexican Economy has Charted Clear Course: President Calderón
 Suzanne Stephens Waller - Presidencia de la República
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November 06, 2009
| | President Calderón attends inauguration of Bloomberg Economic Forum on credit crisis. (Presidencia de la República) | |
Mexico City - President Felipe Calderón stated that Mexico has charted a clear course for the economy, as borne out by the 80,000 new jobs created in October and the 2.7% growth of the Mexican economy during the third quarter of the year.
“This result is excellent news, because it implies the end of the country’s recession and economic contraction and we are working hard to ensure that this recovery continues and expands in the coming years,” he said.
During the inauguration of the Bloomberg Economic Forum, Mexico 2009: Overcoming the Credit Crisis, the President declared that Mexico has created jobs at positive rates for the past five consecutive jobs, totaling over 200,000 from June to October.
With this positive trend, he said, Government expects the economy to grow by at least 3 per cent and by the end of the administration, the aim is to grow at an average rate of 5%.
“We are determined to make our economic forecasts come true. We want the country to achieve sustained growth rates in the future,” declared President Calderón, accompanied by Secretary of Finance and Public Credit, Agustín Carstens Carstens.
The President added that certain international consulting firms estimate that despite the economic crisis, Mexico has gained in competitiveness in relation to economies such as Brazil, China and India.
“A key step in maintaining the strength of the national army is not to lose control or discipline and not to lose one's head in handling macroeconomic variables,” he said.
The President congratulated the legislators on the open, pluralistic debate they have had in the discussion and passage of the Income Law for 2010, adding that these are difficult but responsible decisions for the country and Mexicans’ future.
“That is why Congress engaged in such an intense discussion, which has finally resulted in the passage of the Law of Income for 2010.
This has not been easy for anyone. For either government, taxpayers or Congress. But that is the way it is. Structural problems, such as the drop in public income, due to the drop in tax collection and the decline in oil production, must be dealt with using structural solutions,” he said.
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