Mexico Has No Plans to Revise 4% GDP Forcast, Messmacher Says

Mexico has no plans to revise its 2011 economic growth forecast of 4 percent, Miguel Messmacher, the Finance Ministry’s chief economist, said today in Mexico City.

``If you had asked me two weeks ago, I would have said that maybe there was more of a downside risk, but in the last two weeks the data in the U.S. has done better than expected,'' Messmacher said. ``I would expect that we won't move it,'' he added, referring to the government's forecast for economic growth of 4 percent this year.

Messmacher, speaking at an event in Mexico City, also said that Mexico’s economy may see a significant expansion in the newt few years and that there are no plans to revise the current economic growth forecast for this year of 4 percent.

Speaking afterward, Messmacher said that recent U.S. economic reports have helped to reverse the downward risk of Mexico’s economy.

To contact the reporter on this story: Nacha Cattan in Mexico City at ncattan@bloomberg.net

To contact the editor responsible for this story: Robert Jameson at rjameson@bloomberg.net