Positive news: Mexico projects economic growth of 2% in 2023 according to the UN

Inspenet, May 20, 2023

Mexico shows positive economic growth amid the slowdown experienced by the Latin American and Caribbean region, according to a report published by the UN . Unlike other parts of the world, the economic forecasts for Mexico have not changed since their initial publication at the beginning of the year, which is an encouraging indicator.

The report highlights that, despite the economic slowdown in the region, Mexico and Central America are projected with a 2% growth in their Gross Domestic Product (GDP), exceeding the initial expectations of January by four tenths. This represents a positive sign of stability and economic development in the area.

1839 Mexico crecimiento economico shutterstock interna

While other countries face challenges, Mexico positions itself as a leader in economic growth in Latin America and the Caribbean

In contrast, countries like Argentina, Brazil, Chile and Colombia face greater challenges in terms of economic growth. Brazil, the largest economy in the region, is expected to grow just 1% in 2023, indicating a more difficult situation for its economic recovery.

On the other hand, the report also highlights the outstanding growth in the Caribbean, where an 8% growth in its economy is estimated. This increase is a significant boost for the region and can be attributed to various factors such as tourism and foreign investment.

Globally, the economic outlook is favourable, with the UN forecasting growth of 2.3%. The United States, Europe and China are the main engines of this growth, which provides a favorable environment for economic development in Mexico and other parts of the world.

By 2024, the Latin American and Caribbean region is expected to regain some economic momentum, with projected growth of 2.4%, one tenth less than in the previous UN report. These data show an encouraging outlook for the economic future of the region.

Mexico stands out as a growing economy within the Latin American and Caribbean region, maintaining its growth forecasts and exceeding initial expectations. As the region gradually recovers, Mexico is expected to continue to play an important role in the economic development of the area.

Source : https://binoticias.com/finanzas/mexico-crecera-2-este-ano-estima-la-onu

Photos : Shutter Stock

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