MEXICO CITY, July 31 (Xinhua) -- Mexican President Andres Manuel Lopez Obrador on Wednesday celebrated his country's economic growth in the second quarter of 2019.
The 0.1-percent growth rate indicate that Mexico narrowly avoided a technical recession, defined as two consecutive quarters of negative economic growth.
The economic growth report released by the National Institute of Statistics and Geography was "very good news, because it allays fears and helps block attempts to generate distrust," Lopez Obrador said during his daily press conference.
The president said his economic model was designed to turn economic growth into development, create jobs and guide investment towards the right direction.
Asked whether the government planned to adjust its forecast of 2019 growth between 1.1 percent and 2.1 percent, the president said they were going to wait and see.
International agencies have recently downgraded their 2019 growth forecasts for Mexico, citing domestic and external factors. The International Monetary Fund reduced Mexico's projected growth from 1.6 percent to 0.9 percent.