Sunday, December 10, 2023

Mexico’s economy is predicted to take off

The projection from the club of rich countries: the rate of economic growth in Mexico for 2024 will be 2.5%, higher than the 2.1 expected in the middle of the year and in other countries.

In its report “Tackling inflation and low growth,” presented on September 19, the OECD indicated a stronger world economy than expected in the first half of this year, but generally weak growth prospects. .

For Mexico, the assessment is positive and provides certainty about the direction of economic policy. This year an expansion of 3.3% is expected in the Gross Domestic Product, and next year the growth will be even greater in countries such as Spain, the United States, Japan, Canada or France.

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Meanwhile, the narrative opposing President Andrés Manuel López Obrador insists on pointing to an economic disaster and anticipation of a financial crisis, reality does not correspond to opinions.

The series of indicators of the state of the national economy and the majority of families show the argumentative weakness of these considerations.

Between December 2021 and August of this year there was an increase of 21% in the average salary of workers, inflation 10.4% and purchasing power grew 9.6%. Formal employment increased by 11%.

The central data on the recovery of the purchasing power of Mexican households is private consumption, prepared by Inegi, with a growth of 6.5%.

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To these results must be added the first benefits of nearshoring, whose impact will be gradual in investments to Mexico.

The conditions are encouraging to close 2023 with a strong economy and view 2024 as a year of consolidation, under the principles of savings, efficiency and rationality, without losing the policy of protecting the most vulnerable groups and guaranteeing them to access social programs. .

Mexico is an attractive destination for investments, a situation that will deepen with the recovery of Category 1 air safety, with a consequent request for new routes for passengers and cargo, national and international.

Nation World News Desk
Nation World News Desk
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