Mexico tries to restart economy after swine flu shutdown

[WiNaDeYo]

Mexico tries to restart economy after swine flu shutdown

http://www.kvbc.com/Global/story.asp?S=10307004

Associated Press - May 5, 2009 2:43 PM ET

MEXICO CITY (AP) - Mexico's president is calling for a return to normalcy, but flu experts are warning that the country and the rest of the world need to remain on guard against the swine flu.

After a 5-day shutdown, restaurants and other nonessential private businesses began reopening today, though Cinco de Mayo celebrations have been canceled across the country.

Authorities have confirmed some 840 cases of the new H1N1 flu in Mexico, including 26 deaths. And Mexico's finance chief says the outbreak has cost the country's economy at least $2 billion. He's unveiled plans for an economic stimulus, and campaigns to bring back tourists and fight bans on Mexican pork products.

But with high schools and universities getting a scrub down before they reopen Thursday, some health experts worry about the possibility of a rebound as people again gather in larger groups

And then there's this:

http://www.cbc.ca/money/story/2009/0...omy-swine.html

Mexico plans swine flu stimulus package
Last Updated: Tuesday, May 5, 2009 | 12:34 PM ET
CBC News

The Mexican government plans to bring in a 17.4 billion peso ($1.54 billion Cdn) stimulus package aimed at supporting the tourism industry and the small business sector, Finance Minister Agustin Carstens said Tuesday.

Health insurance premiums will be temporarily cut for small firms, while airlines and cruise ships will see their taxes cut.

Mexican hotel occupancy rates have been cut in half in the wake of the outbreak of swine flu, while many airlines have cancelled flights to the country. The outbreak, which has its roots in Mexico, has led the World Health Organization to raise its global pandemic alert level to five on a scale that tops out at six.

The Mexican economy has lost the equivalent of $2.59 billion Cdn due to the swine flu outbreak, the finance minister said.

The fallout from the outbreak will cut between 0.3 and 0.5 percentage points from the country's economic performance this year, Carstens said. The economy could contract by four per cent in 2009, he has said.

Last week, Carstens said the Mexican economy likely contracted in the first quarter by seven per cent year-over-year due to falling exports. The United States is the destination of about 80 per cent of Mexico's exports.

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