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Wednesday, September 27, 2023

OECD revises its current forecast of GDP growth in Mexico to 3% in 2023

There Organization for Economic Cooperation and Development (OECD) adjusted the forecasts of growth of the world economy and of all countries, between Mexico, for 2023 and 2024.

The overall increase in Gross Internal Product (GDP) for this year is 3%, which means an increase from the forecast level of 2.7%; sin embargo, by 2024 it will be reduced to 2.7% from the estimate of 2.9% announced at very low levels.

In the case of Mexico, the organism improved the forecast for 2023, going from 2.6% to 3.3%, and almost a year ago it went from 2.1% to 2.5%.

In the Economic Panorama document, provisional report: Confronting inflation and low growth, the OECD assures that ““Despite the start of 2023, I hope that the global growth will moderate.”

The prior reason is the impact of a restrictive monetary policy with the fact that it stops inflation, in addition to the fact that we observe a decline in consumer confidence and the loss of reputation of the Chinese economy, signaling the organization.

The organism says that, although we hope that the inflation will gradually moderate this year and around the year, we hope to have a greater impact on the central banks.

The OECD affirmed that there are risks that persist, such as the uncertainty of the strength and speed of the transmission of monetary policy and the persistence of inflation, which are of concern.

Also worry that the adversary effects that can be presented by the increase of the piles of interests are more likely to be hoped for, sobre todo porque en manyos países las tasas de interés ya alcanzaron su pico.

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