Tue, 06 Jun 2023

MEXICO CITY, March 20 (Xinhua) -- Mexico's economy is "solid" and able to withstand external shocks such as the crisis roiling several banks in the United States, said President Andres Manuel Lopez Obrador on Monday.

With Mexican banks registering record profits, "the majority of Mexicans are doing well," Lopez Obrador said at his regular daily press conference.

"There is macroeconomic stability in the country and no crisis is on the horizon," he said.

There may be unforeseen events and external factors, such as the financial turmoil caused by the collapse of two banking institutions abroad this month, said Lopez Obrador, describing Mexico's economy as "solid."

Mexico's economy, the second largest in Latin America after Brazil, grew by 3.1 percent in 2022.

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