He International Monetary Fund The International Monetary Fund (IMF) said on Wednesday that it estimates the Mexican economy will slow its growth next year, expanding by 2.1%, compared with a forecast of 3.2% for 2024.
Yesterday it became known that Gross domestic product Mexico’s (GDP) economy, Latin America’s second-largest economy, grew 3.3% year on year in the third quarter. In recent months, analysts have adjusted upward their forecasts for Mexico’s GDP growth.
“ Mexican economy “It is in the middle of a general expansion phase,” the IMF said in a statement.
“Economic activity expected to slow While fiscal policy is expected to ease next year, its impact on economic growth will be tempered by capacity constraints, continued contractionary monetary policy and slower growth in the United States, he added.
The IMF said it estimates Mexico will meet its 2023 budget targets and that more limited capital spending will offset decrease in tax revenuesresulting in a budget deficit of 3.9% of GDP.
In addition, the company added that the base rate Bank of Mexico, Banxico, will remain at 11.25% for an “extended period.” However, IMF directors advised Mexican authorities to be cautious in cutting it before prices begin to fall towards the official target of 3%.
On the other hand, IMF Directors stressed to Mexico the need to address “emerging gaps” in anti-money laundering policy terrorist financing and the need to increase non-oil revenues, which continue to lag behind those in Latin America and the Organization for Economic Co-operation and Development (OECD).
Reuters
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
