* The United Nations (UN) Department of Economic and Social Affairs (Desa) has presented its ‘World Economic Situation and Prospects 2020’ report, in which it notes a
“sharper-than-expected downturn” in Mexico.
“Despite solid export growth, economic activity in Mexico almost came to a standstill in 2019 as policy uncertainty and fiscal austerity dragged down investment”, the report reads. Real GDP growth is estimated to have stagnated at 0.0% in 2019 and is forecast to pick up to 1.3% in 2020. Speaking during the presentation of the report, the chief of the economic development unit at the UN’s Economic Commission for Latin America and the Caribbean (Eclac),
Ramón Padilla, said that the new US-Mexico-Canada (USMCA) regional trade agreement (which was
ratified by the US last week) will help the Mexican economy by reducing uncertainty and attracting new investment.
End of preview - This article contains approximately 138 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options