Mexico’s finance ministry slightly raises growth estimate

MEXICO CITY, April 3 (Reuters) – Mexico’s finance ministry
has slightly raised its economic growth estimate for 2011 to
reflect the improving global economy, according to a document
recently sent to Congress.

The Mexican economy will grow “at least 4 percent” this
year, the document said. That is up from its previously
forecast 3.8 percent, a figure that lawmakers revised to 3.9
percent when they approved the country’s 2011 budget in
November. For 2012, the finance ministry said it expects growth
of 4.2 percent.

The ministry’s 2011 forecast is below the average of
analysts who follow the country’s economy. According to a
central bank poll published on Friday, analysts expect economic
growth of 4.25 percent this year. [ID:nMEX004024]

Mexico’s Finance Minister Ernesto Cordero also last month
said Mexico’s 2011 growth could exceed the 5.5 percent rate
clocked in 2010, the fastest in a decade. [ID:nLDE72L1MP]

Speaking at the Reuters Latin American Investment Summit on
Tuesday, Cordero said that improved prospects for growth in the
United States were now boosting Mexico’s own outlook.
(Reporting by Elinor Comlay; editing by Gunna Dickson)

Mexico’s finance ministry slightly raises growth estimate