MEXICO CITY, July 31: Mexico’s economy likely grew 4 percent in the second quarter of 2012 compared to the same period last year, the finance ministry said on Monday, taming its pace of expansion under the weight of a global slowdown.
Latin America’s second biggest economy grew 4.6 percent in the first quarter, year-on-year, but signs of weakening demand in the United States for Mexican exports could drag further in the coming months.
Mexico’s public sector ran a fiscal deficit of 84.4 billion pesos ($6.3 billion) in June, the finance ministry said on its website, following a deficit of 16.8 billion pesos in May.
President Felipe Calderon has shrunk the public sector budget deficit after it widened during the 2008-09 recession.
The country’s Congress has targeted a 2012 budget deficit of 0.4 percent of gross domestic product, and the finance ministry said the government was on track to stay within the limit.
(agencies)
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