Mexico cuts 2008 foreign direct investment forecast

Mexico lowered its estimate of how much money foreign companies will invest in the country this year as the US recession increasingly weighs on Mexico's economy. Economy Minister Gerardo Ruiz told reporters on Friday that foreign direct investment in Mexico would fall to between $17 billion and $18 billion this year, down from $23 billion in 2007.
The government had previously estimated direct investment flows from abroad of $20 billion for this year.