International Monetary Fund estimates that Mexico’s GDP will fall by 10.5% According to its global macroeconomic outlook report, projections for the Latin American and Caribbean region, including Mexico, predict a 9.4 percent contraction this year and a 3.7 percent recovery from next year.
MEXICO CITY (Europa Press) – The International Monetary Fund (IMF) has updated its forecast of Mexico’s gross domestic product (GDP) for this year. Mexico received one of the strongest adjustments, going from -6.6 to -10.5 percent. However, it estimated recovery of 3.3 percent for 2021. According to the World Bank, it will be the worst global decline since World War II.
According to López Obrador, “The IMF’s forecast is very pessimistic. I’m an optimist. I maintain that we are going to recover soon,” he said. AMLO did not make clear estimates for the economic downturn. However, he recalled that a 5 percent drop was expected in the first quarter of the year, which did not happen that way. He estimated that the April-June quarter would be the most complicated for the national economy. However, he argued with the data on job losses.
“In April, 555,000 jobs were lost. Already in May, it was 340,000. We have already reached the bottom. So far in June, until yesterday, 85,000 jobs have been lost”. He stressed that there are days in the month when there have been increases in the labor register. “I estimate, by the end of June, 120,130,000 (jobs lost),” and in July, “there will be no more job losses, that is my forecast,” said the president.
According to its global macroeconomic outlook report, the IMF again lowered its forecast for the GDP of the Latin American and Caribbean region, including Mexico, to a contraction of 9.4 percent this year and recovery of 3.7 percent from next year.
The Yucatan Times
more recommended stories
Cenote divers in Tulum must be regulated by Civil Protection
Tulum, Q.R. — The Directorate of.
86 percent progress reported in the Mérida – Chetumal highway repaving works
Mérida, Yucatán (November 25, 2020).- The.
Lucas de Galvez and San Benito markets will close until 9 PM
MÉRIDA.- In response to the requests.
CDC warns Americans against traveling to Mexico due to COVID-19
People who become infected with the.
Are hurricanes spurring more Central American migration?
SAN PEDRO SULA, Honduras (AP) —.
If approved by Cofepris, Pfizer vaccine will arrive in December: Marcelo Ebrard
On Tuesday, November 24th, Marcelo Ebrard,.
Cancun restaurants are celebrating ‘Taco Week’
The objective of ‘Taco Week’ is.
Illegal logging, a problem afflicting the beekeeping industry in Yucatan
“It is urgent to update the.
Diego Maradona dies in Argentina
Argentine soccer player Diego Armando Maradona.
Tren Maya starts hiring construction workers in Yucatan
Maxcanú, Yucatán (November 24, 2020).- In.