LatinNews Daily - 24 October 2018

* Mexico’s President-elect Andrés Manuel López Obrador has said during a speech at a business summit that Mexico’s annual GDP growth rate could reach 4% if the country could attract more foreign investment. López Obrador highlighted that his incoming government will increase public investment, which is currently running at around M$530bn (US$27.47bn), but that public funds alone will not be enough to revive the domestic economy. According to López Obrador, Mexico could double its current economic growth rates if the government manages to “enable publicly funded programmes and direct private and foreign investment towards development projects in the country”. The president-elect also announced that his incoming government will continue to work on the enactment of the new trade agreement recently signed by Mexico, the US, and Canada (USMCA), which will replace the North American Free Trade Agreement (Nafta).

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