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Receipt of remittances amounted to $ 3,000,096 million in May, representing a growth of 19.8% over the fifth month of 2017 and, At the same time, was ranked as the month with the highest dollar deposits since Banco de México has records (1995).
According to Banxico data released on Monday, the last ceiling reached by remittances was recorded in October 2017 when it was reported an attraction of 2 billion 643 million dollars.
Alberto Ramos, Economic Analyst at Goldman Sachs, estimates that remittances from Mexican workers residing in the United States will remain strong in the near term, given the vigorous growth in employment in this country.
"We expect that the growth of remittances in dollars will stabilize at around 5 and 7% per year." We note that, until now, strong flows of remittances from strengthened the current account and private consumption, especially for low-income families, who have a high propensity to consume and are the main beneficiaries of these transfers. "
El Banxico reported that 9 million 597 thousand transactions were carried out in May and that average value of remittances was $ 323, a figure now standing at about 6 thousand 506 pesos
Fear of 39, immigration promoted by the president of United States, Donald Trump and a larger job offer for Mexican migrants to the United States, have generated a greater amount of transfers of dollars to Mexico.
In 2017, the sending of remittances reached a historical record of 28 thousand 771 million, and if this growth rate continues, the annual results of 2018 could exceed this amount.
In a study conducted by the Center for Latin American Monetary Studies (CEMLA) it is estimated that Mexico could between 30.2 and 30.5 billion dollars in 2018, which would represent an increase between 5 and 6 percentage points compared to 2017.
In the first five months of the year, the absorption of "migrated dollars" had risen to 12 thousand 849 million, higher than the 11 thousand 529 million dollars received during the same period of 2017.
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