Spirited Business Travelers: Must-see Mezcalerias in Mexico City

Mexico is known for being the home of tequila as well as ice-cold, refreshing Micheladas. Now, however, what is most popular is the Mexican liquor called Mezcal, an agave-based spirit similar to tequila. What used to be demeaningly considered 'for construction workers', "now has a very good image", says Junior Merino, owner of a cocktail consultant company, The Liquid Chef. "What's trending now in Mexico is the mezcalerias," he adds explaining that, "A lot of people are opening places dedicated to mezcal, not tequila. You find artisanal products, different varieties; sometimes the bottles don't even have labels." Place like Nobu and China Grill are both trending in the renovated Santa Fe district of Mexico City.

Mexico's 2012 Budget Seeks to Raise Spending

Mexican President Felipe Calderon, whose nonrenewable 6 yr. term will end in November 2012, submitted to Congress this Thursday his 2012 budget proposal. This new proposal shows that the government is looking for a smaller deficit with more spending compared with the 2011 budget. The spending plan, which will only exclude investment in state oil monopoly Petroleos Mexicanos, or Pemex, calls for a deficit of 36.7 billion pesos ($2.94 billion), equivalent to 0.2% of gross domestic product, compared with a deficit of 0.5% for this year. Oil income is expected to rise 5.8% from projections for 2011, while non-oil income is seen growing by 1.7% next year. Including Pemex investment, the deficit is expected to be 2.2% of GDP, an improvement from the 2.5 percent number for this year. The federal government would maintain Mexico investment levels in Pemex at 2% of GDP. Calderón explained that the new budget includes continued support for small and medium businesses, as well as investment to build, repair or upgrade 1,280 kilometers of roads and highways, he said.

Fed Reserve to Keep Interest Rates at Record Low

Via Bloomberg.com:
"The Federal Reserve pledged for the first time to keep its interest rate at a record low at least through mid-2013 in an effort to revive a flagging recovery after the worldwide stock fall."

Inflation Rises in Mexico for First Time in Four Months

Via the WSJ.com: The National Statistics Institute, or Inegi, said today that the consumer price index rose 0.48% in July, pushing the annual rate up to 3.55%. Mexican consumer prices rose in July for the first time in four months, pushed by higher food and transportation costs.