Mexico City – International Monetary Fund (International Monetary Fund) improved its outlook for the economy Mexico in 2023That raised its forecast to a recovery of 2.6 percent, compared to its forecast of 1.8 percent in April. However, for 2024, it has revised its forecast downward to 1.5%.
The international organization highlighted that the improvement in Mexico’s forecasts this year is based on the fact that Delayed post-pandemic recovery from covid-19 In the service sector take rootin addition to the effects derived from the elasticity of demand in the United States.
However, this dynamic momentum of consumption growth is not expected to continue. (American) consumers have spent a lot of the surplus savings accumulated during the pandemic, and the Federal Reserve is expected to continue raising interest rates.The International Monetary Fund warned by lowering its growth forecasts for the United States.
The International Monetary Fund estimates that global economic growth will decline from 3.5% in 2022 to 3% in 2023 and 2024. Mexico will move from 3% to 2.6 and 1.8%. pic.twitter.com/XhpM7DQqmR
– Sergio Sarmiento (@SergioSarmiento) July 25, 2023
In the course of updating its global economic outlook, the International Monetary Fund estimated that Global growth will decline from 3.5% in 2022 to 3% in 2023 and 2024which means an upward revision of 0.2 percentage points for 2023 and remaining unchanged in 2024.
Meanwhile, expect Latin America and the Caribbean will grow 1.9 percent in 2023, three-tenths higher than it predicted in April, and for 2024 it maintained its forecast at 2.2 percent. Growth in Latin America this year and next will be much lower than in 2021, when it increased by 7 percent, and 3.9 percent in 2022.
“The continued rise in interest rates on the monetary policy of central banks to combat inflation weighs on economic activity.Note the International Monetary Fund.
IMF growth forecasts for 2023:
India 🇮🇳: 6.1%
China 🇨🇳: 5.2%
Nigeria🇳🇬: 3.2%
Mexico 🇲🇽: 2.6%
Spain 🇪🇸: 2.5%
Brazil 🇧🇷: 2.1%
USA: 1.8%
Canada 🇨🇦: 1.7%
Russia🇷🇺: 1.5%
Japan 🇯🇵: 1.4%
Italy 🇮🇹: 1.1%
France 🇫🇷: 0.8%
United Kingdom 🇬🇧 0.4%
South Africa 🇿🇦: 0.3%
Germany🇩🇪: -0.3%– Alejandra Trejo (@AlejandraTrejoN) July 25, 2023
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