Mexico had to wait five years for the economy to recover. |
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Mexico had to wait five years for the economy to recover. COVID pulls in exports - collapses in consumption
Citibanamex Financial Group (Citibanamex), a Mexican financial firm, said. Mexico's economy will take years to recover. Experts expect The economy will not be able to return to 2018 levels until mid-2025 due to the effects of COVID-19.
However, Citibanamex has improved its สล็อตxo forecast for economic growth this year even better. The 2020 economy is expected to shrink 9.8%, compared to the previous forecast of 11.2% contraction.
In 2021, Citibanamex downgraded its forecast for economic growth to 3.5% from the previous 4.1%.
Citibanamex stated, 'We predict Mexico's gross domestic product (GDP) will not recover to 2018 levels until mid-2025'.
In addition, Citibanamex forecasts that Mexican exports will drop 11.5 percent this year and private consumption will drop 10.1 percent.
“The factors that determine private consumption are still moderate. While there is little positive sentiment on the labor market. '
Citibanamex stated in the report.
The administration of President Andres Manuel Lopez Obrador expects that Mexico will lose around 1 million jobs this year. Due to the spread of COVID-19 Although the government tried to create 2 million new jobs.
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