Bank of Mexico estimates a 3% growth this year

The Bank of Mexico has estimated a stable economic growth, with higher GDP growth levels than they had anticipated
Bank of Mexico estimates a 3% growth this year
The Bank of Mexico's headquarters in Mexico City - Photo: Edgard Garrido/REUTERS
30/05/2018
19:23
Leonor Flores
Mexico City
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The Bank of Mexico (Banxico) estimated that the economy could grow up to 3% this year in Mexico, due to a recent increase in business dynamics.

Thus, the institution decided to keep its growth expectations for the national economy unchanged this year and the next.

When presenting their quarterly inflation report, the Bank stated that the growth of the Mexican Economy would remain the same in their predictions with regard to the previous report.

As for 2018, the gross domestic product (GDP) is expected to grow at a rate of between 2.0% and 3.0%, whereas in 2019, it will likely grow at a rate of between 2.2% and 3.2%, though the Bank has considered that, given the recent increase in economic dynamics on the first quarter of the present year, the estimated growth rate for the GDP might reach higher levels than expected.

The sustained growth anticipated for the rest of the year, as well as 2019, is based on the likelihood of the reactivation of private investment, and the investment in certain major infrastructure projects in the public sector. It is also based in the recent increase in foreign demand. Though, of course, these projections are based on the economic policy makers’ commitment to preserving a stable macroeconomic framework, with sustainable public finances and policies that promote investment and productivity growth.

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