The CEO of Standard & Poor's (S&P) in Mexico, Victor Manuel Herrera, hoped that the differences of politicians are resolved "very shortly" to maintain the dynamic of the current federal administration.
He said he was "disappointed" that political differences prevented the presentation last Tuesday of financial reform, "because we are accelerating on the right track." He also noted that S&P analysts expect a maximum of 18 months to evaluate the agreements reached by the Mexican political class. Without structural reform package, the agency will not move the long-term sovereign rating of Mexico.
Without those reforms, he said, Mexico will continue with growth rates of 3.5 percent. But with the approval of "good" reforms, especially fiscal and energy, growth could reach rates of 5.0 percent of gross domestic product (GDP) from next year.
"With the possibility of approving these reforms and strengthening public finances pivoted toward further development and growth, then you can give a higher rating," he said.
