LatinNews Daily - 27 January 2022

In brief: BBVA lowers GDP forecast for Mexico

* The Mexican branch of the Spanish-owned BBVA bank has lowered its 2022 GDP forecast for Mexico from 3.2% to 2.2%, attributing the reduced forecast to a weaker than expected second half of 2021 and the impact of rising prices on disposable income. The bank also lowered its 2021 GDP growth estimation from 6.0% to 5.3%, given that GDP fell by 0.4% quarter-on-quarter in Q3 2021 and consumption continued to be weak through Q4 2021. The previous day, the International Monetary Fund (IMF) also lowered its 2022 GDP forecast for Mexico by 1.2 percentage points, from 4% to 2.8%.

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