Sept. 21 (Bloomberg) -- Mexican Finance Minister Jose Antonio Meade ruled out boosting spending to fight off a U.S. slowdown that the International Monetary Fund says will hurt Latin America’s second-biggest economy more than its neighbors.
Meade, in an interview, said he’s sticking by a 4 percent growth forecast for this year even after the IMF yesterday slashed estimates for Mexico’s economic performance this year and in 2012. Mexico is committed to spending restraint, a policy that served it well during the global financial crisis when other countries saw inflation accelerate and debt loads rise as a result of excessive fiscal stimulus, he said.
Meade, in an interview, said he’s sticking by a 4 percent growth forecast for this year even after the IMF yesterday slashed estimates for Mexico’s economic performance this year and in 2012. Mexico is committed to spending restraint, a policy that served it well during the global financial crisis when other countries saw inflation accelerate and debt loads rise as a result of excessive fiscal stimulus, he said.
