Mexico Real Estate Is the Mexican government stable?
Most definitely. Vincente Fox, elected in July 2000 for a six year term, has proved to be forward thinking, a friend of the United States, and an effective activist in terms of Mexico’s economy. Democratically elected, the President is a leader of a Federal Republic and a bicameral Congress. Under President Fox’s watch, Mexico has become a member of NAFTA (North American Free Trade Agreement) and EU FTA, a trade arrangement with the European Union guaranteeing that foreign tariffs will be reduced to zero by 2007. Their major trading partners are the USA, Canada, UK, Japan and, of course the EU. The country’s 2003 GDP/GNP for 2003 was about $601 billion, up 1.3% from 2002. The annual growth estimate for 2004 is 3% to 3.5%.
