ZCZC
BCN-31
MEXICO-ECONOMY-GROWTH
IMEF revises down Mexico’s economic growth forecast for 2019
MEXICO CITY, June 19, 2019 (BSS/Xinhua) – The Mexican Institute of Finance
Executives (IMEF) revised down its forecast for the country’s 2019 economic
growth from 1.4 percent to 1.2 percent amidst fears that trade tensions could
lead to a global recession.
In a press release, the IMEF said that the Mexican economy faces a
“complex and highly uncertain” scenario, which is why growth prospects were
revised downwards.
“The U.S. threat of imposing tariffs on all Mexican imports, leaving aside
the established legal order, represents a blow to world trade, which
increases uncertainty about the economic outlook,” the IMEF said.
Mexico, the second largest economy in Latin America after Brazil, depends
to a large extent on economic cycles in the United States. In 2018, the
Mexican economy grew 2 percent.
The Central Bank of Mexico has forecast the country’s economic growth
between 0.8 and 1.8 percent this year.
BSS/XINHUA/HR/1455