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Weekly Report - 08 August 2019 (WR-19-31)

MEXICO: Stimulus plan to dynamise faltering economy

President Andrés Manuel López Obrador boldly forecast last week that there was no risk of recession” in Mexico. The fact that he made his prediction on the same day as his government announced a M$485bn (US$25.42bn) economic stimulus plan, and two weeks after the central bank Banco de México (Banxico) predicted that there was the possibility of “a slight recession” in the second quarter, belied his confidence. But López Obrador was proved right – by a whisker. The release of second-quarter growth figures showed GDP expanded by 0.1% on the first quarter.

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