“GDP grew 1.5% annually in 2024, it is important The manufacturing, ”said Edgar Amador Zamora, Undersecretary of Finance and Public Credit.
When presenting the results of the Finance and Public Debt report of the fourth quarter of 2024, the economist explained that more than half of the contraction observed in the fourth quarter is explained by the poor performance in the primary activities affected by the change climatic, which decreased 8.9% at a quarterly rate.
“This is the lowest rate in a quarter of a century for a quarter for the Mexican economy, this performance is related to climatic and supply factors, they do not have to do with a generalized weakness of the economy. (…) We have such a strong effect or more than a tariff, simply because of the drought issue, ”said Amador.
He said that in the Treasury, the budgetary and economic objectives for this 2025 will be achieved.
“We have projected growth between 2.3 and 2.0, they are optimistic, let me put it in other terms, of course there are risk factors, some that have been materialized, were not contemplated in the presentation and approval of the budget; The electoral result in US , a recession in Mexico and we do not see permanent signs of weakness, ”said the official.
The official explained that “so far there is no specific determination regarding commercial policy”, and that tariffs can affect one or more nations, or the whole business partners of the United States, and that until Know specific tariff issues, the Treasury cannot make an evaluation of possible effects.
He explained that the second factor that influenced GDP, at the end of last year, was manufacturing, which had results below expected due to external factors, mainly in October, such as hurricanes, but showed better performance In November. “Which suggests that the affectation has been temporary and accounts for the resilience of our economy,” he added.
He added that, to face eventualities, contributions are still made to the budgetary income stabilization funds (FEIP) and the stabilization of the income of the federative entities (FEIEF).
