In 2020, Mexico will fall 10%, the most profound fall among Latin American countries, while by 2021, it will have a very tenuous growth of just 3%
MEXICO CITY (apro).- The covid-19 pandemic will leave Mexico as the economy hardest hit in Latin America by the lack of tax incentives, unemployment in tourism, and the decline in exports, warned the Conference of Nations United Nations on Trade and Development (UNCTAD, for its acronym in English).
In numbers, the country’s Gross Domestic Product (GDP) will collapse 10%, according to the international organization’s projections. In comparison, Latin America and the Caribbean as a whole will have a fall of 7.6%. Brazil will decline by 5.7%, and Central America will decrease its GDP of 5.2% for this year.
“In 2020, Mexico will fall 10%, the deepest drop among Latin American countries, while by 2021 it will have a very tenuous growth of just 3%. It will not be a V-shaped recovery,” said Alex Izurieta, senior economist at UNCTAD, when presenting the 2020 Trade and Development Report.
Such a forecast is far from the forecast of the Ministry of Finance and Public Credit (SHCP), maker of the country’s economic and fiscal policy, which for 2020 anticipated a drop of 8.6% and a recovery of 4.6% in 2021.
“Three factors badly hit Mexico: the first is that it is a country that depends a lot on exports, manufacturing, and is an exporter of primary goods such as oil, whose prices have fallen; the tourist factor, where the country has been specializing, and the decisive lack of fiscal push to counteract the pandemic is very atypical, although it has occurred in several countries,” Izurieta stressed.
Note of interest: Profeco locates the cheapest, most expensive gasoline and the stations with irregularities
In this sense, the economist Luis Foncerrada Pascal warned that employment will still take time to recover and reach the levels before the covid-19 pandemic.
He specified that during the pandemic rise, unemployment reached 34 million people, equivalent to 53% of the country’s labor force, while in July, the figure was reduced to 23 million. Although it is less, it still represents 36% of the people with possibilities to work.
more recommended stories
Taxi driver murdered in Ticul, Yucatan
After the discovery of the lifeless.
Italians blame global warming for the glacier collapse that killed at least six people and injured 15 (Watch Video)
Italy’s prime minister on Monday, JUly.
AMLO says that Mexico should return to “God’s clock”
Mexico’s president submitted a bill on.
BACKYARD BIRDING IN MERIDA, YUCATAN AND BEYOND-LET’S DISH ABOUT FRONTAL PLATES
One of my photography surprises is.
Bison attacks senior citizen (Watch Video)
A 71-year-old visitor at Yellowstone National.
Why are tourists attracted to the “Coca-Cola” logo when they visit Yucatan?
When they visit Mexico and the.
Mérida hosted the national course to protect animals during natural weather phenomena
The Mérida City Council coordinated a.
AMLO comes forward to defend US Ambassador Ken Salazar
On Tuesday, July 5th, Andrés Manuel.
Mauricio Vila supervises the operation of the new logistics center of Amazon in Yucatan
Governor Mauricio Vila Dosal visited and.
The First Edition of the Torta de Kibi Fair was a huge success
With great success, the First Edition.