According to information from the survey carried out by the Bank of Mexico (Banxico), a growth of 1.72 percent of the economy of the country during this 2022, according to the analysis carried out in April. According to economic specialists, they foresee that there will be a greater deterioration in the forecasts for this year.
According to experts, during this 2022, the country would only grow 1.72 percent compared to the 1.8 percent forecast in the March survey. By 2023, the Gross Domestic Product (GDP) of Mexico advances 2 percentunchanged from Banxico’s analysis.
The survey forecasts for 2022 a terminal inflation of 6.75 percentwhich implies a 95 basis point increase With respect to 5.8 percent forecast in the March poll. For its part, core inflation would close at 6 percent, no longer at 5.47 percentexpected a month earlier.
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The specialists considered that these inflationary pressures would cause the monetary authority to continue with the cycle of interest rate hikeso this year the benchmark would close at 8.25 percentFrom a 6.5 percent current.
Among the main risks that the specialists consulted by Banxico envision for economic activity, governance continues to stand out, with the 35 percent of responses, followed by inflation, with the 24 percent.
They also considered that the lack of rule of law is one of the main obstacles to doing business within Mexico, with the 30 percent responsefollowed by the problems of crime and corruption, with 28 and 20 percent respectively.
Specialists foresee more inflation for the end of the year in Mexico, it would increase to 6.75%
Specialists in economics from the private sector revised upwards their estimate of general inflation for the end of the year of 5.80 percent prior to current 6.75 percentaccording to a survey carried out by the Bank of Mexico, during April.
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For 2023 they also adjusted their forecast of 4 to 4.13 percentwhile the forecast for core inflation -considered a better parameter to measure the trajectory of prices- rose from 5.47 to 6 percent for the end of 2022 and from 3.95 to 4 percent for next year.
The expectation of economic growth for 2022 suffered a slight reduction of 1.80 percent from March to 1.72 in Aprilwhile the estimate for 2023 was unchanged at 2 percent.
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