Mexico's government expects a "clear acceleration" of the economy in the second half and has no immediate plans to alter its forecast of 3.1 percent growth for this year, Finance Secretary Luis Videgaray said.
"We expect a clear acceleration in the second half and of course in the coming year," Videgaray told Radio Formula Friday, commenting on the central bank's latest bulletin.
Banco de Mexico said in the bulletin, released Friday, that "the deceleration that's been seen in Mexico's economic activity since the second half of 2012 seemed to have intensified in the second quarter of 2013."
It pointed to slow global economic growth, the appreciation of the Mexican peso relative to the dollar through May, less dynamic public spending and the poor performance of the housing sector as causes of the more pronounced slowdown.
Videgaray, however, said the government was maintaining its forecast of 3.1 percent GDP growth for this year.
The Mexican economy expanded just 0.8 percent in the first quarter compared to same three-month period of 2012, prompting the government to lower the country's projected growth for 2013 from 3.5 percent to 3.1 percent.
"If the figures overwhelmingly point to a different figure, we'll (change the forecast again) at that time," the secretary said.
Videgaray said that moment could come when the definitive second-quarter results are released. EFE