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Nation’s Largest Bank Reports "Mexico is Growing its Economy"

02 May, 2013

A panel discussion at the University of Texas at Brownsville has revealed that Mexico’s economy is still on a major upswing in 2013,according to an article published by The Brownsville Herald.

“Mexico is growing its economy and trading heavily with the United States,” Chairman and CEO of ABC Capital Mario Laborin Gomez reportedly told the panel of experts. “The Mexican economy is not only good – it’s growing.”

ABC Capital is Mexico’s largest independent loan company and commercial bank. Gomez has also served in the cabinets of former Mexican Presidents Vincente Fox and Felipe Calderon and was the keynote speaker at the recent UT panel discussion.

Since the signing of the North American Free Trade Agreement (NAFTA) in 1994,the U.S. ,Canadian and Mexican economies have become inextricably linked,with annual production rates hitting upwards of $17 trillion in various goods and services. With this,there has also been a significant increase in the number of expats and other international travelers who have purchased and profited from Mexico real estate,especially in popular vacation destinations such as Cancun and Puerto Vallarta.

“In 2010,Mexico purchased $163.3 billion in U.S. exports and exported $229.7 billion in goods to the U.S.,” the newspaper reports.

Gomez told the panel that Mexico has worked for 20 years to put things in place,adding that smart money management and reduced inflation,along with a firmly democratic government,has led to a rapidly expanding economy.  

“We have a very new way of living in Mexico,” Gomez said. “Mexico is back on track. You’re going to have a partner instead of a problem on the other side of the border.”

All of this amounts to good news for each of the countries involved,since their respective economies rely heavily upon one another’s success. In other words,Mexico is definitely a country to watch,especially considering that current President Enrique Peña Nieto’s administration is working on nearly 100 policy proposals that will address a wide variety of much-needed reforms involving education,telecommunications,energy and fiscal concerns,which will only help to farther bolster and strengthen Mexico’s already robust economy.

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