When speaking to the Mexican Stock Exchange this month the President of the Federal Reserve Bank of Dallas, Mr Richard Fisher, told his listeners that Mexico is in much better economic shape than the United States.
In the speech he stated; â€œMexico is actually doing better than the United States in many macroeconomic areas, thanks to the soundness of its economy.”
The US Congress, and its presidential candidates, he said, should â€œtake a chapter from Mexicoâ€™s book about implementing real fiscal reform. They might well benefit by broadening their perspective on Mexico; from focusing solely on illegal immigration and drug and gun traffickingâ€¦â€
If the two countries are compared then Mexico has lower levels of debt and also lower levels of fiscal deficit. Mexico has also managed a balanced budget whereas the US has soared into billions of dollars in the red. This is excellent news for Mexico and proves that it is taking all the right steps to be an economic success story.
The fiscal reforms that the Mexican government has taken over the last decade under the leadership of President Fox and now Felipe Calderon have managed to strengthen the economy. Fisher commented that â€œMexicoâ€™s national debt is about 27 percent of its GDP; the USâ€™s debt-to-GDP ratio, on the other hand, was 99 percent in 2011, and is expected to hit 116 percent in 2012.”
Another good reason to come to this paradise!