Mexican growth to be laggardly, central bank head says

The second largest economy of Latin America is projected to grow no more than 4 percent for the remainder of this year and for next year, Reuters reports the governor of the nation's central bank said.

Bank of Mexico chief Agustin Carstens told journalists on Wednesday that demand for exports of Mexican products is likely to fall as a consequence of Europe and the U.S. wrestling with debt issues. He also said Mexican political infighting during the past 15 years has proved to be detrimental to efforts to boost the economy.

"Mexico could be growing more and creating more jobs if efforts were doubled in passing structural reforms, which are really needed since growth in advanced economies is not going to be very fast in the coming years," Carstens told reporters on Wednesday, according to Reuters.

The economy of Mexico trails only that of Brazil as far as size in concerned in Latin America.

The Mexican peso, which is considered Latin America's most traded currency, has been performing more strongly this year as compared to last year, which Dow Jones Newswires attributes to stronger prospects for the U.S. economy and reduced concerns about the Europe's financial state.