OECD forecasts slowdown in Mexico economic growth in 2018

It is expected that the economy will realign by the implementation of structural reforms, thus Mexico economic growth will be closing this year at 2.4% compared to the expected 1.9% while it is expected to be 2.2% by 2018
Photo: Mexican currency - Pablo/Cuartooscuro.com
29/11/2017
09:40
Leonor Flores
Mexico City
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Despite that in 2017 Mexico's economy performed better than expected, the Organization for Economic Cooperation and Development (OECD) forecasts in its World Economic Outlook (WEO) that Mexico will experience a slowdown in economic growth, thus OECD recommended to reduce corruption.

It is expected that the economy will realign by the implementation of structural reforms, thus Mexico economic growth will be closing this year at 2.4% compared to the expected 1.9% while it is expected to be 2.2% by 2018.

OECD recommended Mexico to strengthen productivity growth, to make a full implementation of structural reforms, and in particular to improve the efficiency of the judicial system, to reduce corruption and to improve the quality of education.

However, it is expected that recent structural reforms and successful tenders in the energy sector will give a boost to private investment next year.

During the WEO presentation, José Ángel Gurría, OECD Secretary-General, emphasized that the global economy overall is gaining momentum, adding that it increased from 3.1% in 2016 to 3.6% for 2017 and to an expected 3.7% for 2018.

according to the WEO, for the first time in a decade, the global economy is synchronizing, without any of the major economies experiencing a recession.

sg

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