The expectation of the monetary entity contrasts with that of the Government. Mexican President Andrés Manuel López Obrador continues to forecast that the economy will rebound 5% this year.
“The federal government will soon have to review its forecasts because (…) the results of the second half of last year were not so favorable and that affects the performance and dynamism of the activity,” he added.
“I think this is a more realistic scenario,” Esquivel said, in an interview with the Radio Formula network, about the central bank’s new estimate.
The Mexican economy recorded zero growth in the fourth quarter of 2021, a slight improvement compared to a preliminary estimate according to which the country would have entered a technical recession by registering two consecutive quarters with contractions, and compared to a decline of 0.7% of the previous period.
Analysts surveyed by Citibanamex cut their expectation of economic growth for this year, leaving it at 2% from 2.1% in the previous survey. “This is the fifth consecutive drop in the median GDP growth forecast for 2022,” the institution said in a statement.
With information from Reuters
