Mexico Announces US$315 Billion Infrastructure Spending Plan

Mexican President Enrique Peña Nieto announced on July 15, 2013, that Mexico will invest US$315 billion during the period 2013-2018 to upgrade Mexico's infrastructure by modernizing roads and highways, building rail lines, building and expanding the country's seaports and airports, providing universal access to telecommunications and boosting the energy sector. The plan is expected to include close to 500 projects across the country. President Peña Nieto stated, however, that the flow of investments, and possible further spending increases, will depend on the approval of fiscal reform that his administration will propose to Mexico's Congress in September.

The plan is part of an effort to improve Mexico's competitiveness and productivity. Mexico's stated long-term goal is to be ranked in the top 20 percent of the World Economic Forum's Infrastructure Competitiveness Index by 2030 (Mexico currently ranks 68th out of 144 countries surveyed). The $315 billion plan