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LatinNews Daily - 09 September 2021

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In brief: Mexico expects strong growth through 2022

* Mexico’s finance minister Rogelio Ramírez de la O has defended the government’s expectations that the country’s economy will continue to grow strongly next year, after the coronavirus (Covid-19) pandemic caused GDP to contract by 8.2% in 2020. In an interview with local business daily El Financiero, Ramírez de la O cited three factors in particular which underpin the government’s forecast for 4.1% growth in 2022: strengthened demand on the domestic market; increased investment in manufacturing; and the ongoing effects of fiscal stimulus in the US. “Many believe that the recovery will be limited to 2021, but they don’t realise that this impulse will extend into 2022”, Ramírez de la O said, citing the increase in salaries in real terms and the recovery of the labour market as helping drive the recovery of domestic consumption.