Diaz de Leon said in a radio interview following the central bank report that both public and private investment are needed together in order to generate growth.

If you continue to navigate this website beyond this page, cookies will be placed on your browser. In a positive sign, Mexican economic activity advanced 8.9% in June from May, apparently confirming the president’s view that the economy “hit bottom” in April and May. Lopez Obrador insists Mexico is on the right track. MEXICO CITY (Reuters) - Mexico’s economy could contract by almost 13% this year, the central bank warned on Wednesday, after GDP data showed the pandemic lockdown had thrown the country into the deepest slump since the Great Depression. After a decline between 2010 and 2014, the annualized growth rate of MePCI in Mexico was 1.8 percent between 2016 and 2018, still well below the average for the LAC region.Low growth rates and significant inequalities continued to raise the question of how Mexico can grow more rapidly and become more inclusive? Its macroeconomic stability is the cornerstone to foster investments and a growing private sector. On a per capita basis, average growth was close to just 1.0 percent. In the best case, the economy would shrink by 8.8% this year, and rebound by 5.6% next year, the bank said. Reporting by Anthony Esposito and Miguel Angel Gutierrez, Additional reporting by Daina Beth Solomon; Writing by Frank Jack Daniel; Editing by Steve Orlofsky, Lisa Shumaker, Cynthia Osterman and David GregorioFILE PHOTO: A building undergoing construction is seen in Mexico City, Mexico January 30, 2020.

Its economic growth averaged just above 2 percent a year between 1980 and 2018, limiting progress in convergence relative to high income economies.

Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress.Mexico is the second largest economy in Latin America. The median per capita income (MePCI) has recently recovered slightly after several years of decline. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus).

Primary activities include farming and fishing, secondary activities comprise manufacturing, mining and construction, and tertiary activities cover retail and the services sector. Offering some rays of hope after lowering its economic forecast for the year, the Banco de Mexico suggested in its quarterly report that a recovery could happen more quickly next year than previously thought.

Mexican President Andres Manuel Lopez Obrador defended his handling of the economic fallout from the coronavirus pandemic on Tuesday, arguing in a major speech that the economy … EN However, even in the bank’s most optimistic scenario, Latin America’s second-largest economy will be smaller at the end of 2021 than it was before the coronavirus hit.”It is too soon to say when we will return to pre-crisis levels,” central bank Governor Alejandro Diaz de Leon said.

The Bank of Mexico (BdeM) predicts that the economy could shrink to 12.3 percent in 2020 due to the negative impact of the COVID-19 pandemic, according to … The government previously estimated a recovery of the Mexican economy to pre-pandemic levels could be reached in one or two years so long as no new coronavirus outbreaks strike. Latin America’s largest economy Brazil, by contrast, is forecast to have contracted 9.4% in the second quarter after President Jair Bolsonaro launched a fiscal spending program to deal with the impact of COVID-19. Mexico’s economy contracted the most on record after the majority of activity was shut down to prevent the spread of the coronavirus. The World Bank Group engagement with the country is structured around a model that provides development solutions adapted to the country, with an integral package of financial, knowledge and convening services.With a population of almost 130 million, a rich cultural history and diversity, and abundant natural resources, Mexico has the 11However, despite all this progress, over the last three decades Mexico has underperformed in terms of growth, inclusion and poverty reduction compared to similar countries.

To learn more about cookies, With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. This site uses cookies to optimize functionality and give you the best possible experience. The World Bank Group (WBG) discussed and supported the new A few examples of the work of the World Bank in Mexico are:Find out what the Bank Group's branches are doing in Mexico.Global data and statistics, research and publications, and topics in poverty and development We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth.

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