Treasury estimates that Mexico will grow 2.4% in 2022

The Mexican economy is shaping up to grow 2.4% in 2022, according to estimates by the Ministry of Finance and Public Credit (SHCP) released on Friday.
Undersecretary Gabriel Yorio said this afternoon at a press conference that the economy is growing above or even above expectations and is in line with the calculations of the Treasury, thanks to the strengthening of the domestic market.
In the report on the situation of the country and public finances in the third quarter of the year, the agency indicated that public debt stood at 46.5% of GDP and continues to present a stable trajectory towards the closure of the administration of President Andrés Manuel López Obrador.

“In terms of public finances, debt remains anchored and sustained with levels below those of OECD countries and Latin American countries despite the impacts generated by COVID-19 and the escalation of geopolitical tensions and interest rates,” Yorio said.

Reports on the Economic Situation, Public Finances and Public Debt as of Q3 2022
— Hacienda (@Hacienda_Mexico) October 28, 2022

The Treasury, however, acknowledged that consumer prices continued to be pressured upwards, which it attributed to external factors, such as high prices of raw materials, and internal factors, such as droughts and rains in different regions of the country.

He indicated that general inflation reached 8.52% during the third quarter, but assured that inflation compares favorably with respect to the data observed in other countries in the region.
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Original source in Spanish

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