Mexican economy should be growing 5 percent by 2016 - Videgaray

(Reuters) - Mexico's economy should grow by more than 5 percent per year in the second half of President Enrique Pena Nieto's 2012-2018 administration thanks to economic reforms, Finance Minister Luis Videgaray said on Thursday.

In 2013, Congress passed a series of measures aimed at lifting Mexican growth, which has lagged that of regional peers for years. The reforms stretched from the telecoms sector and tax changes to ending the country's 75-year-old oil monopoly.


Turning to the energy reform, the finance minister said Mexico needed to find $20 billion to $30 billion in additional investment per annum for the energy sector.

"We hope it'll come with the energy reform," he said.

Crude output in Mexico has fallen by more than a quarter since hitting a peak of 3.4 million barrels per day in 2004. 

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