August 20, 2014 / 6:06 AM / 5 years ago

Mexico's Pena Nieto eyes annual growth of 5 percent around 2018

Mexico's President Enrique Pena Nieto addresses the audience at the National Palace in Mexico City August 11, 2014. REUTERS/Edgard Garrido

MEXICO CITY (Reuters) - Mexico’s annual economic growth rate could rise to around 5 percent by around 2018 in the wake of a series of economic reforms spanning energy to telecoms, President Enrique Pena Nieto said on Wednesday.

“We forecast ... that in the coming years, with the reforms, in 2015, 2016, 2017, 2018, the growth of our economy will increase,” Pena Nieto said. “To 3, 4 percent and around 2018 we could see annual growth of around 5 percent.”

When asked about growth for 2014, Pena Nieto said that he hoped to reach the finance ministry’s forecast of 2.7 percent.

Earlier this month, the Bank of Mexico trimmed its 2014 growth forecast to between 2.0 percent and 2.8 percent, from a previous estimate of between 2.3 percent and 3.3 percent.

Reporting by Simon Gardner, Christine Murray, Noe Torres

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