ECLAC reduced growth forecast for Mexico from 2.2% to 1.7%

CEPAL reduced growth forecasts for Mexico from 2.2% to 1.7% (Video: CEPAL)

The growth forecasts for Mexico in 2019 have been reduced from 2.1% to 1.7% by the Economic Commission for Latin America and the Caribbean (ECLAC)according to your estimates for Latin America and the Caribbean.

It was in December when CEPAL presented its annual report "Preliminary Overview of the Economies of Latin America and the Caribbean 2018", in which he said that for the Mexican economy, it would increase by 2.1% by the end of this year, but this Thursday they changed the above figure and announced the new estimate.

This projection was made with recent adjustments made by various international organizations and Ministry of Finance, for example, the International Monetary Fund (IMF) lowered its estimates of gross domestic product (GDP) from 2.5% to 1.6%; while the world Bank reduce them to 1.7%.

But ECLAC has not only reduced its growth for Mexico, he also did it for the whole region of Latin America and the Caribbean, where it went from 1.7% to 1.3%.

Pfor South America and Central America have forecast growth. The first will increase from 0.5% last year to 1.1% for 2019 and the second will increase by 3.1%.

Agree with The financier these increases are due to the biggest deceleration expected for the United States this year, which has affected not only trade but also remittances to this subregion.

The Mexican newspaper, an expert in economics, said that forecasts of economic performance in the region carry some risks: a lower global growth rate, weak global trade and the financial conditions of emerging economies.

The increase in trade restrictions could have a negative impact on commodity prices, according to ECLAC.

"The trade war between the United States and China has not yet been resolved, which poses a risk not only to world trade and the global growth rate in the medium term, but also to the general financial conditions. related to the economic crisis, perception of a greater or lesser risk on the part of the agents, "El Financiero explained.