MEXICO CITY, Aug. 5 (Xinhua) -- Mexico's business sector on Monday urged the government to speed up its plan to re-boot the economy.
The Confederation of National Chambers of Commerce (Concanaco Servytur) in a statement called on the government to launch its "Actions to Support the Economy" plan as soon as possible.
"There would be fatal consequences if the federal government's strategy were to stumble due to bureaucracy, (which is) common when implementing public policies," Jose Manuel Lopez, president of the confederation, said.
Lopez believes the economy has slowed due to lagging public spending, budget cuts and a fall in public and private sector investment, as well as a general global economic slowdown.
The Mexican goverment unveiled the economic plan last week, which earmarked 25.5 billion U.S. dollars to promote job creation and investment.
Latin America's No. 2 economy grew 2 percent in 2018. For 2019, the Central Bank of Mexico has forecasted a growth between 0.8 and 1.8 percent, but the economy only expanded by 0.2 percent in the first half of the year, according to the official data.