Tuesday 25 June 2019 ,
Tuesday 25 June 2019 ,
Latest News
  • None can destroy Awami League: PM
  • Cabinet secy rejects TIB report over promotion
  • DIG Mizan, 3 others sued for graft
  • Provide division to ex-Sonagazi OC Moazzem: Court
  • World Cup: Tigers set 263 runs target for Afghan
1 September, 2018 00:00 00 AM
Print

Mexico lowers economic growth projection for two years

Xinhua

The Central Bank of Mexico (Banxico) rolled back its economic forecast for 2018 and 2019 on Wednesday. The monetary entity projected the country’s GDP growth of between 2.0 and 2.6 percent for this year, compared to the previous projection of 2.0 to 3.0 percent, reports Xinhua from Mexico City.

For 2019, Banxico reduced its growth projection to between 1.8 and 2.8 percent, compared to the previous 2.2 to 3.2 percent. While presenting the second quarter inflation report, Banxico Governor Alejandro Diaz de Leon said the adjustment is in line with the economic decline during that quarter, lackluster investment and slowing domestic consumption.

“A very important piece of data used in this revision is Gross Domestic Product growth, which clearly was not what was anticipated and led to revising the outlook,” Diaz de Leon said during a press conference.

The Mexican economy, the second largest in Latin America, contracted 0.2 percent during the second quarter compared to the previous quarter, according to data released on Aug. 24.

In 2017, Mexico’s economy grew by 2 percent, down from 2.9 percent in 2016.

The local economy still faces some risks in the short-term, including an escalation of protectionism at a global level, Diaz de Leon said.

There could also be periods of volatility in the international financial markets, and a prevailing environment of uncertainty that has been affecting investments, he said.

In addition, the governor said the understanding reached Monday between the United States and Mexico on the North American Free Trade Agreement (NAFTA) represented an “important step” which could lead to certainty in investment.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 49.5%
No 46.4%
No Comment 4.1%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01
02030405060708
09101112131415
16171819202122
23242526272829
30

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting