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Weekly Report - 01 December 2016 (WR-16-47)
MEXICO: OECD slashes forecast
The Organisation for Economic Co-operation and Development (OECD) lowered its GDP growth projection for Mexico this week in revised economic forecasts. The OECD now predicts that Mexico’s GDP growth for 2016 will be 2.2%, down from the 2.6% predicted in June, whilst for 2017 it has revised its forecast from 3% down to 2.3%, and predicts growth of 2.4% in 2018. The envisaged fall in growth is attributed to the economic uncertainty produced by the election of US Republican presidential candidate Donald Trump; the fall in international oil prices; and government spending cuts planned by the government led by President Enrique Peña Nieto designed to help meet its fiscal deficit reduction objectives.
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