Analysts forecast 2.2% growth for Mexico in 2022: Banxico

MEXICO – Mexico's economy could grow up to 2.2% in 2022, according to analysts consulted by Banco de Mexico (Banxico).

The figure is lower than previously estimated. Last December, specialists considered that the country would grow by 2.77% this year.

Growth expectations for 2023 also decreased: while in December they considered that the country would grow by 2.15%, in the new January survey they agreed that the figure will be of 2.10%.

In its latest quarterly report, covering July-September 2021, the Central Bank estimated that GDP will stand at 3.2% by 2022.

In its latest quarterly report, covering July-September 2021, the Central Bank estimated that GDP will stand at 3.2% by 2022.

Meanwhile, for 2022, specialists consulted by Banxico expect inflation to reach 4.27% by the end of the year, up from 4.16% in the previous survey.

As for the exchange rate, analysts expect it to close 2022 at 21.32 pesos per dollar, 33 cents less than estimated in December. Regarding 2023, they estimate that it will close at 21.61 pesos per dollar.

Source: El Financiero