January 27, 2023

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Mexican president says economy should grow at least 3.5% through 2024 By Reuters

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© Reuters. Mexican President Andres Manuel Lopez Obrador attends a march in support of his government policies and to celebrate his four years in the office, in Mexico City, Mexico November 27, 2022. REUTERS/Henry Romero

MEXICO CITY (Reuters) -Mexico’s economy should grow 3.5% over 2022, 2023 and 2024, President Andres Manuel Lopez Obrador said on Sunday in a speech to a massive crowd gathered in the country’s capital to mark his fourth year in office.

An economic slowdown, largely in the industrial sector, weighed on to Mexico’s Gross Domestic Product (GDP) growth, keeping it slightly below estimates in the third quarter this year.

Analysts have predicted GDP will grow by 2.7% this year, while the International Monetary Fund expects growth to slow to 1.2% next year.

“The economy will increase by 3.5% this year and, I estimate, by that same percentage at least for 2023 and 2024,” he said.

Lopez Obrador has recently said we would like to see the central bank balance fighting inflation with the need to protect economic growth.