Estimated economic growth Mexico in 2021 low Banxico

According to the monthly survey conducted by Banco de México (Banxico) to specialists, private initiative decreased Mexico’s economic growth to 5.59% of the Gross Domestic Product (GDP) by the end of 2021.In turn, on the other hand, the private sector raised its estimate regarding the increase in inflation in the Mexican Republic placing it at 7.63%. With the data revealed by the Central Bank of the country, the third consecutive fall in the estimate of the growth of the Mexican economy for the current year is recorded, this after the estimates of 6% in October and 5.65% last November, according to the measurement of the projections of 37 national and foreign analysis groups received on the 8th and 13th of this month. Read more: CRE endorses agreement that limits self-supply of electricity generation from privateWithever, with these figures it can be realized that the private sector continues to maintain a rebound in Mexico’s economy at the end of 2021 after having suffered the historic fall of 8.2% of its GDP in 2020 as a result of the crises generated by the Covid-19 pandemic, However, it is clear that 5.59% of private companies are below the official target established by the Ministry of Finance and Public Credit (SHCP), which predicted a growth of 6% for this year. Likewise, the experts consulted by the Bank of Mexico maintained the expectations they expressed last November regarding the country’s economic growth for 2022, contemplating that this will be 2.79% of GDP. Likewise, the survey carried out by the autonomous body also reported a new rise in the expectations that are made regarding the issue of general inflation for the end of 2021, since now experts expect it to stand at 7.63%, contrasting with the 6.60% that was estimated in October and the 7.20% that was contemplated in November. Read more: Christmas gift! The monthly survey was published a day after the Bank of Mexico increased, for the fifth consecutive time in the year, the interest rate, now to 5.5%, this in the face of rising inflation, which managed to position itself, at a general year-on-year rate, at 7.37%, last month. Ahome is projected internationally at the Tianguis Turístico 2021

Original source in Spanish