Consumer Spending Boost Seen on Mexico's New President's Reforms Silvio Cascione - Reuters
go to original February 16, 2013

With increasing per capita income, the aspirations of the 35 - 45 million Mexican middle class are similar to the middle class in the United States. Douglas Dillon Fellow for Latin America Studies, Council on Foreign Relations says: The emergence of the middle class is a game changes for the Mexican economy. (mexicotoday)

MEXICO CITY - Mexico's ambitious agenda of economic reforms could unleash pent-up spending by low and middle-income earners if the economy gathers steam and more on-the-books employment gives workers easier access to credit.

A recently approved overhaul of rigid labor rules and planned changes to tax, energy and antitrust laws by President Enrique Pena Nieto are aimed at helping create jobs and reduce the size of the underground economy, starting a virtuous cycle of greater investment, employment and lending.

The reforms aim to boost labor productivity, which has gone backwards in recent years, and lift growth to 6 percent a year, about three times the average of the last decade.

... Pena Nieto, who took office on December 1 for a six-year term, has also pledged to improve the country's social security safety net, including state pensions and unemployment benefits. That would make a huge difference to the 50 percent of Mexicans who are considered poor.

Read the whole story at Chicago Tribune

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