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Mexico's public debt grows too fast: study

Xinhua, November 20, 2015 Adjust font size:

Mexico's public debt has ballooned to 47 percent of the gross domestic product (GDP), a leading private financial group warned Thursday.

If the government of President Enrique Pena Nieto does not work to reverse the trend, his six-year administration could conclude in 2018 with a public debt of 55 percent of GDP, according to BBVA-Bancomer.

Mexico's debt is still low compared to many emerging and developed countries, but has grown notably, said Carlos Serrano, the group's chief economist.

Pena Nieto's administration came to power in 2012 with public debt representing 37 percent of the GDP, meaning it has grown 10 percentage points in three to four years.

"Mexico is on a path that's not very advisable," said Serrano. Endi