Mexico's economic growth is disappointing and no one knows when will the "miracle" happen, said Nobel laureate Paul Krugman. 

"When will this Mexican miracle happen? People are tired of waiting. I am tired of waiting." 

Krugman explained that 30 years have lapsed after the (economic) opening and it is clear that it was not enough. 

"Performance has not been terrible, but not as expected, so I would hesitate to predict when will this miracle happen," Krugman said during his keynote address at the 2015 National Convention of Industrialists organized by the National Chamber of the Transformation Industry (Canacintra). 

He added that "Mexico is much less vulnerable to oil prices compared to the past" because it now has a more diversified export industry oriented to manufacturing more than oil and that Mexico should invest more and better in basic education.

Krugman, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, said that if he had a "magic wand", he would end with Mexico's insecurity because it hinders growth.