Private analysts now estimate that Mexico’seconomy could grow by 3.5 percent in 2021, up from the 3.44 percent previously estimated, a survey by the Central Bank of Mexico (Nanxico) indicated on Tuesday, Feb. 2.
Analysts also forecast a growth in Mexico’s gross domestic product of 2.5 percent for 2022, slightly lower than the 2.6 percent estimate in December, the poll, conducted by Banxico between Jan. 19 and Jan. 28, revealed.
The Mexican economy, the second-largest in Latin America after Brazil, contracted 8.3 percent in 2020, its worst performance since the 1930s, due to the effects of the novel coronavirus pandemic.
In terms of inflation, Banxico’s survey showed a slight rise to 3.66 percent by the end of the year, from the previous 3.6 percent.
In addition, experts estimate inflation at 3.5 percent by the end of 2022.
Analysts also project an exchange rate parity of 20.20 pesos per U.S. dollar at the end of the year, slightly less than the 20.53 pesos estimated in December.
…Feb. 4, 2021