MEXICO CITY, Feb 5 (Reuters) - U.S. President George W. Bush told his Mexican counterpart on Tuesday that stimulus spending plans in the United States would help the economy south of the border too, the Mexican president's office said.

Bush spoke with Mexico's president, Felipe Calderon, over the telephone, and said the plans to boost the U.S. economy to head off a looming recession will give economic and trade stability to both countries, Calderon's office said.

Mexico's economy is closely linked to the United States, which buys around 80 percent of all Mexican exports.

On Monday, Bush unveiled a $3.1 trillion spending plan for fiscal year 2009. Democrats and the White House are also cooperating on a $150 billion package to help the U.S. economy.

Mexico's government last week slashed its 2008 economic growth outlook to 2.8 percent from a previous forecast of 3.7 percent because of the slowdown in the United States, largely because of turmoil in the U.S. housing and credit markets. (Reporting by Chris Aspin; Editing by Leslie Adler)

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