Mexico’s Economic Growth Forecasted at 2.5% to 3.5% with Decreasing Inflation and Crude Oil Production Decline

Draft Budget Reveals Mexican Economy Expected to Grow up to 3.5% in 2024, According to The Mighty 790 KFGO

In Mexico, the economy is projected to experience growth between 2.5% and 3.5% this year, according to a draft budget from the finance ministry. This growth is expected to continue in the coming years, with a forecasted growth rate of 2.0% to 3.0% for 2025.

One of the key indicators of Mexico’s economy is inflation, which is predicted to decrease to 3.8% this year, aligning with the central bank’s target range of 3%, plus or minus one percentage point. The exchange rate for the Mexican peso is projected to be 17.8 pesos per dollar this year, with a slight weakening to 18.0 pesos per dollar in 2025.

Another important aspect of Mexico’s economy is its crude oil production, which has been steadily declining over the years. State-owned oil company Pemex’s crude oil output reached its lowest level since 1979 in February, and has decreased from a peak of 3.4 million barrels per day two decades ago. Crude oil exports are projected to be 967,600 barrels per day in 2021 and will fall slightly to

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