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23 апреля 2018 г. 05:03

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MEXICO CITY, Aug. 22 (Xinhua) -- Mexico's economic slowdown is due to inefficient government spending which, despite one of the country's highest budgets in history, has seen record-low public investments, analysts said.

 

On Monday, experts from the Mexican economic observatory Como vamos held a press conference to share their view on why the country's gross domestic product (GDP) growth has been stagnating.

 

While individual areas such as private consumption or foreign investment have been showing signs of dynamism, they are not enough to overcome "mediocre growth" overall, said Valeria Moy, director general of Como vamos.

 

"The government's spending is not generating value. We are not growing as we should due to inefficiency," she said.

 

According to Moy, the government's target growth rate of 2.7 percent for 2016 seems "very far from reality." The national statistics bureau, INEGI, recently announced that Mexico's GDP contracted 0.2 percent in the second quarter and may only grow by 0.5 percent in the third quarter.

 

Manuel Molano, deputy director general of the Mexican Institute for Competitiveness, said that Mexico would need to grow 4.9 percent in the second half of the year to reach the 2.7-percent target.

 

Seeing this as highly unlikely, he said:" If all goes well, the country will close with growth similar to that registered over the last 20 years, around 2 percent."

 

For Francisco Lelo de Larrea, director of economic studies at the Center for Economic Studies of the Private Sector, a total structural reform of public spending at all government levels is needed to bring added value to the country.

 

"The lack of value creation is due to the government having reduced spending on investment and has increased spending on current expenditure. We now have the highest public spending in our history: 27 percent of GDP," he stressed.

 

This stagnation has impacted many sectors severely, including job creation. For example, Moy said, at the beginning of 2016, Como vamos had predicted the creation of 700,000 jobs by the end of July. In reality, only 464,098 new jobs were reported in that time frame.

 

To fix this, Moy said public spending should be directed to have a multiplying effect, with every dollar spent creating more dollars of value across the value chain.

 

"It is crucial to establish clear and daring goals so we can follow and evaluate the public policies put in place by the government," she said.

 

 

 

LOS ANGELES http://www.cheapnbajerseysknicks.com/enes-kanter-jersey/ , Feb. 12 (Xinhua) -- The 59th Grammy Awards ceremony was held in downtown Los Angeles Staples Center on Sunday, with British songstress Adele dominating the award.

 

Adele swept the top prizes of song and record of the year for her soaring ballad "Hello" and album of the year for her third album "25."

 

Adele took home a total of five Grammys, winning in the pre-telecast ceremony for best pop vocal album for "25" and best pop solo performance for "Hello."

 

Adele set a Grammy history Sunday to be the only artist to win album, record and song of the year twice. In 2012 http://www.cheapnbajerseysknicks.com/charles-oakley-jersey/ , she won these three big awards with her second album "21."

 

Adele debuted at Grammy in 2009. At the 51st Grammy Awards in 2009, Adele received the awards for Best New Artist. Up to now, she has 15 Grammy Awards.

 

Her five wins were quietly matched by late David Bowie, whose album "Blackstar" and its title track http://www.cheapnbajerseysknicks.com/bernard-king-jersey/ , won the best rock song, the best rock performance, the best alternative music album, the best recording package and the best engineered non-classical album.

 

Bowie died Jan. 10 http://www.cheapnbajerseysknicks.com/willis-reed-jersey/ , 2016, at age 69. In his over five decades career, Bowie got 12 Grammy nominations and he only got one award in 1985 before this year.

 

Beyonce, who had a leading nine nominations heading into this Grammy http://www.cheapnbajerseysknicks.com/phil-jackson-jersey/ , wound up winning just two -- the best urban contemporary album for "Lemonade" and the best music video for the song "Formation."

 

Even Adele seemed genuinely surprised when she took home the record and album of the year prizes, spending much of her acceptance speeches heaping praise on Beyonce.

 

"My dream and my idol is Queen B," she said to Beyonce on stage, "I adore you and you move my soul every single day."

 

Earlier in the show http://www.cheapnbajerseysknicks.com/mark-jackson-jersey/ , when Beyonce won the best urban contemporary album, she read from a pre-written speech, saying she created "Lemonade" as "a body of work that would give a voice to our pain, our struggles and our darkness and our history http://www.cheapnbajerseysknicks.com/walt-frazier-jersey/ , to confront issues that make us uncomfortable."

 

Twenty-three-year-old Chance the Rapper won the best new artist, the best rap album for "Coloring Book" and the best rap performance for "No Problem."

 

The Ohio duo of Twenty One Pilots won the Grammy for the best pop duo performance for their hit "Stressed Out".

 

The award for the best country solo performance went to 26-year-old songstress Maren Morris. She won the prize for her debut single "My Church".

 

She gave special thanks to her fans, saying, "Thank you for giving me the most incredible year of my life."

 

Running roughly three hours and 45 minutes http://www.cheapnbajerseysknicks.com/anthony-mason-jersey/ , the Grammy ceremony was hosted by James Corden.

 

In recent weeks, the question running through the music business was whether the Grammys would become a spot for political complaints, in the way that Hollywood seized the Golden Globes and Screen Actors Guild awards for strong statements against the Trump administration.

 

Corden answered this question at the beginning of the ceremony in a quick-fire rap, saying http://www.cheapnbajerseysknicks.com/carmelo-anthony-jersey/ , "Live it all up because this is the best and with President Trump, we don't know what comes next."

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