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LatinNews Daily - 15 April 2021

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In brief: Mexico unlikely to recover pre-pandemic levels in 2021

* The bank BBVA México has noted that although Mexico’s economy will grow in 2021, it will not fully recover from the historic 8.2% GDP contraction in 2020 caused by the coronavirus (Covid-19) pandemic. BBVA estimates that Mexico’s GDP will grow 3.2% this year, and has forecast important growth in a number of sectors (while warning that these will not reach pre-pandemic levels), including professional services (16.3%), housing (9%), transport (8.5%), agriculture (7.1%) and financial services (6.4%). BBVA notes that the recovery will be unequal amongst different sectors and also geographically, with four states expected to see negative growth this year. These figures come on the heels of the International Monetary Fund revising up its prediction of Mexico’s 2021 growth from 4.3% to 5%.