IMF Dramatically Lowers Growth Expectations for Mexico, Again

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The International Monetary Fund (IMF) in its April World Economic Outlook (WEO) report cut its economic growth expectation for Mexico in 2022 to 2.0 percent, 0.8 percentage points lower than it had forecast in January.

In the diagnosis of January of this year, the agency had already slashed its estimate for Mexican 2022 growth to 2.8 percent from its previous prediction of 4 percent.

For 2023, the IMF said it anticipates a 2.5 percent rally, 0.2 points less than its previous forecast,.

After Russia, the adjustment in the projections for Mexico were the most significant compared to the IMF estimates in the October WEO report.

IMF projections for the Mexican economy were cut by 2 percentage points from what was thought six months ago, when the growth estimate for 2022 was 4 percent.

In the international context of rising inflation, Mexico is expected to reach 6.8 percent in 2022 and decrease to 3.9 percent in 2023 as bottlenecks in global supply chains normalize.

The slowdown in the U.S. economy and the war in Ukraine are having an effect on global economies, including Mexico, the IMF said.

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