MEXICO CITY?President Vicente Fox said Saturday that an economy slumping at a record pace and “absurd” expectations that he would build a new Mexico overnight have made his first year in office far more difficult than he anticipated.

Exactly one year after taking office promising a “revolution of hope” that would stamp out corruption, create thousands of new jobs and undo the wrongs of 71-straight years of single-party rule, Fox said many Mexicans had expected too much, too fast from his first year in office.

“During the campaign, we outlined strategic plans, we outlined goals for a six year term,” Fox said during his weekly radio address. “There were some who absurdly wanted results in the first six months. Frankly, that’s not possible.”

Despite a struggling economy, Mexico’s peso has remained strong against the dollar and inflation levels have remained steady, Fox said.