“I greet and thank the presence of representatives from 105 countries that accompany us today, it is a reflection of Mexico’s commitment to the international community and the friendship that unites us with all the people of Mexico,” said the new president of Mexico in her speech after taking oath in the Chamber of Deputies.
These nations, like Mexico, share challenges to grow their economy. The international context and also internal issues, such as the change of power in the United States, predict lower growth in the Gross Domestic Product (GDP) for 2025.
How are some of the economies that were represented at the inauguration of President Claudia Sheinbaum?
The Mexican economy added a GDP of 1.8 trillion dollars in 2023, according to Statista. The Organization for Economic Co-operation and Development (OECD) cut its growth outlook for 2024 from 2.2% to 1.4%, and for 2025 reduced it to 1.2% from 2.0%.
USA
First lady Jill Biden from the United States attended, representing the president, Joe Biden.
This economy is the largest in the world, with 27.94 trillion dollars at the end of 2023, and is Mexico’s main commercial ally. In the second quarter of this year, this economy grew 3.0%, according to information from the Census Bureau.
By the end of 2024, the OECD predicts a growth of 1.1% in the GDP of this nation, which is holding presidential elections this year. However, it expects lower growth for the end of next year of 1.6%, which represented 0.2 percentage points less than what was forecast last May.
Brazil
From the countries of southern America, the president of Brazil, Luz Inácio Lula da Silva, was present, who in a meeting yesterday with businessmen in Mexico City, called to remake and reformulate the trade agreements between both nations.
The Brazilian economy totals 10.9 trillion reais (2,092 trillion dollars), according to the statistics institute of this country. The OECD increased its forecasts for the end of 2024 to 2.9%, and to 2.6% for 2025.
(Henry Romero/REUTERS)
Chili
The Chilean president, Gabriel Boric Font, attended the inauguration of the president, Claudia Sheinbaum. This is one of the countries of the Pacific Alliance. Its economy totaled 318,268 million dollars in 2023, according to figures from the Economic Commission for Latin America and the Caribbean (ECLAC).
For this year, ECLAC predicts that Chilean GDP will grow 2.6%, and by 2025 it expects growth of 2.3%.
(Henry Romero/REUTERS)
