World Bank Says Mexico Middle Class Vulnerable to Return to Poverty Antonio Hernandez - Milenio
go to original May 18, 2013

The World Bank says that Mexico performed poorly in increasing the population that has moved from poverty to the middle class, largely because of the impact of the financial crisis of 2008 on its economy.

"In the crisis, the only country in Latin America whose GDP shrank by 7 percentage was Mexico. The country shows the worst performance in access of the population to becoming middle class," said Luis F. Lopez-Calva, lead economist for Economic Management and Poverty Reduction in Latin America and the Caribbean of the World Bank.

In the presentation of the study "Economic Mobility and Growth of the Middle Class in Latin America" carried out by the agency, the specialist said that Mexico is one of the few countries in Latin America where poverty is increasing, although for more than ten years Mexico had made great strides in social mobility and access to the middle class.

Read the rest at Mexico Voices

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