Tags: mexico | foreign | direct | investment

Mexico Reports Foreign Direct Investment Over $10B in First Quarter

Mexico Reports Foreign Direct Investment Over $10B in First Quarter
(Dollar Photo Club)

Thursday, 16 May 2019 10:25 AM

Mexico received more than $10 billion in foreign direct investment (FDI) during the first quarter of 2019, up slightly from a year earlier, preliminary figures from the economy ministry showed on Thursday.

In a statement, the ministry said foreign direct investment was $10.16 billion during the January-March period, up 7% versus preliminary figures for the same quarter last year. The figures could be subject to revision, the ministry noted.

It published the estimate shortly after President Andres Manuel Lopez Obrador revealed the investment figure during his regular morning news conference to underline that the Mexican economy and its finances were in "good health."

The president had been asked for his opinion on concerns that his government's economic and financial management has increased the risk of a downgrade to Mexico's credit rating.

Of particular concern is state oil company Pemex, which is carrying $106 billion in financial debt.

The economy has also been sluggish, contracting 0.2 percent during the first quarter from the October-December period, according to preliminary data.

This week the government presented a package of measures aimed at shoring up Pemex, though doubts persist about the company's financial position.

Lopez Obrador noted that the government had decided not to use a stabilization fund to support Pemex. He also stressed that he would not increase Mexico's debt in real terms. 

© 2019 Thomson/Reuters. All rights reserved.

   
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Mexico received more than $10 billion in foreign direct investment (FDI) during the first quarter of 2019, up slightly from a year earlier, preliminary figures from the economy ministry showed on Thursday.
mexico, foreign, direct, investment
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2019-25-16
Thursday, 16 May 2019 10:25 AM
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