Fitch sees stability in Mexico

Fitch Ratings said it expects broad policy continuity will anchor macroeconomic stability in Mexico despite a new administration following the election of Enrique Pena Nieto of the Partido Revolucionario Institucional as president. The agency said Mexico's political institutions have strengthened, allowing for a smooth transition of power.

Fitch believes Pena Nieto will inherit a resilient economy in December, with Fitch projecting GDP growth of 3.5% this year. Economic performance is underpinned by expanding industrial production, recovery in consumer credit and moderate inflation, the agency said, and international reserves are at historically high levels, supporting the country's shock-absorption capacity.

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