• Mon. May 27th, 2024

Mexico’s Economy on the Rebound in 2021: Central Bank Targets Inflation Decrease and Peso Stability

BySamantha Jones

Mar 27, 2024
2024 Draft Budget Shows Mexican Economy Expected to Grow Up to 3.5% | The Mighty 790 KFGO

In 2021, Mexico’s economy is expected to grow between 2.5% and 3.5%, with inflation projected to decrease to 3.8%. This aligns with the central bank’s target of 3%, plus or minus one percentage point. The draft budget also predicts a further decrease in inflation to 3.3% in 2025, indicating a slowdown from the 4.40% growth rate in consumer prices seen in February.

According to the document, the peso is expected to trade at 17.8 pesos per dollar this year and weaken slightly to 18 versus the U.S. currency in 2025. Average crude oil production for this year is forecasted at 1.85 million barrels per day, with a slight increase to 1.86 million barrels per day in 2025. However, it’s worth noting that state-owned oil company Pemex pumped an average of only 1.55 million barrels per day of crude in February, its lowest level since 1979, impacting public finances significantly as oil output has been steadily declining from a peak of 3

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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