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Latino Daily News

Thursday January 31, 2013

Latin America News:  Mexico’s Economy Grows 4 Percent in 2012

Latin America News:  Mexico’s Economy Grows 4 Percent in 2012

Photo: Mexican Economy

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Mexico’s gross domestic product grew around 4 percent in real terms in 2012 and 3.6 percent in the fourth quarter of the year, the Finance and Public Credit Secretariat said.

The federal government’s deficit totaled 403.6 billion pesos ($31.7 billion), the secretariat said in a report.

The figure is “in line with the budget deficit approved for the year and the applicable projections for the fiscal period,” the secretariat said.

The deficit totaled 92.1 billion pesos ($7.2 billion), or 0.60 percent of GDP, if investment in state-owned oil giant Petroleos Mexicanos, or Pemex, is excluded, the Finance and Public Credit Secretariat said.

The number of workers registered with the Mexican Social Security Institute was up by 699,406, or 4.6 percent, as of Dec. 31, compared to the level at the end of 2011.

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