About 700 of Mexicos more than 1.000 stateowned companies have been sold to the private sector or closed. Finally. inflation has been reduced from 159 percent in 1987 to 20 percent today. These reforms have not been implemented without hardships. During the past 6 years. Mexico has suffered very low economic growth. This is largely due to foreign and domestic debt repayments costing about 60 percent of the Mexican budget. Average annual wages have also dropped. resulting in massive emigration to the already swollen cities and to the United States. Despite the ongoing struggle to overcome these problems. the Mexican Government recently reaffirmed its commitment to economic reform. On May 31 of this year.
Keywords matched
emigration