The International Monetary Fund (IMF) cut its growth expectation for Mexico by 1.2 points of GDP, and now estimates that the mexican economy will achieve an advance of 2.8% in 2022.
This cut, from the 4% that they still estimated in November, will be the result of the decline in the purchasing power of Mexican consumers due to inflation and the weakening of exports to the United States, revealed in the update of world GDP expectations.
In the report, launched from the main offices of the Monetary Fund in Washington, by the former chief economist and today the first deputy managing director of the IMF, Gita Gopinath, detailed that at a global level the economic recovery was interrupted by the infections by Covid-19 on the rise and the higher inflation.
Due to this panorama, they now expect a growth of 4% for the United States, a rate that also incorporates a cut of 1.2 points compared to the expectation of the last quarter of last year.
The deterioration of world economic conditions due to the persistence of inflation and the evolution of the pandemic, led the IMF to cut projections for the whole world and the economies of the group of 20 in particular, being the most pronounced, of 1.7 points, those applied to Mexico and Brazil.
In fact, for the first economy in Latin America, they anticipate today an advance of 0.3% that incorporates the impact of the inflation in the economic capacity of consumers.
According to new IMF forecasts, the globe’s GDP will register an expansion of 4.4%, which is lower than the 4.9% expected in the last quarter of last year.
At this moment begins the press conference for the launch of this update of expectations, directed for the last time by Gita Gopinath, who as of January 1, is the First Deputy Managing Director of the IMF, second in command of Kristalina Georgieva.