Weekly Report - 25 May 2004

GROWTH | Recovery 'not a mirage'. Central bank governor Guillermo Ortiz last week proclaimed that high economic growth this year `is not a mirage', and announced that the bank would be raising its GDP growth forecast for 2004 to 3.5% (the upper end of the range predicted earlier). The finance ministry has been predicting 3.1%. GDP growth in the first quarter was 3.7%, higher than anticipated by most forecasters and, according to Ortiz, `much better than in previous years, but still insufficient'.

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