Latin American Economy & Business Report

04/2021 - Mexico raises economic growth forecast, but recovery remains slow

Mexico’s finance ministry (SHCP) on 31 March updated its economic growth forecast ahead of its 2022 budget proposal. In the document sent to the federal congress, the SHCP expects that GDP will grow by 5.3% in 2021, up from its previous forecast of 4.6% published in September 2020. For 2022, the SHCP expects the economy to grow by 3.6%, up from 2.6%. Minister Arturo Herrera stated that these increases in the forecast were justified by the progress of the national coronavirus (Covid-19) vaccination programme, the strengthening of domestic market demand, and the greater dynamism of the global economy.

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