LatinNews Daily - 06 April 2021

In brief: Economists revise up Mexico’s growth forecast

* Private sector economists consulted by Mexico’s central bank (Banxico) have improved their forecast for Mexico’s GDP growth in 2021 to 4.53%, up from 3.89% in February. At the end of last month Mexico’s finance ministry (SHCP) revised up its GDP forecast for this year to 5.3%, after a record 8.2% contraction in 2020 due to the coronavirus (Covid-19) pandemic. This is an increase on the ministry’s previous prediction of 4.6% growth, which Finance Minister Arturo Herrera said was due to the country’s Covid-19 vaccination efforts, as well as the improved economic prospects globally. The surveyed economists also raised their forecasts for inflation, expecting this to close 2021 at 4.11%, up from 3.88% in their February estimate. This is above Banxico’s target of 3% for 2021 (with a tolerance range of 1 percentage point above or below).

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