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IMF raises growth forecast for Mexico

While the IMF has raised its economic growth forecast for Mexico, the organization cautions NAFTA and the 2018 General Election may generate uncertainty
Christine Lagarde, Managing Director of the International Monetary Fund – Photo by REUTERS
22/01/2018
10:34
Leonor Flores
Mexico City
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The International Monetary Fund (IMF) has raised its economic growth forecast for Mexico, from 1.9% to 2.3%, and expects a growth of 3% for 2019, according to their World Economic Outlook (WEO).

While Mexico is set to benefit from the U.S. tax cuts boost to global economy, the IMF has cautioned that on the mid-term this favorable perspective could be clouded by uncertainty regarding the 2018 General Election.

This is the first time the IMF raises the growth expectation of our country, after lowering it to 1.9% in October 2017.

This new percentage is due to the tax reform announced by the United States, which is expected to bring a temporary growth for U.S. trade partners, such as Canada and Mexico.

This new report of the WEO states that while “global recovery has strengthened,” the North American Free Trade Agreement (NAFTA) and the revamp of the Free Trade Agreement with the European Union are risk factors that could hinder Mexico's economic growth.

Overall, global economy is expected to grow by 3.9% for 2018 and 2019.

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