* The Organisation for Economic Co-operation and Development (OECD) has lowered its 2022 GDP growth forecast for Mexico to 2.3% down from its previous (December 2021) forecast of 3.3%. In its latest Economic Survey of Mexico, the OECD put 2021 growth at 5.3%, down from a previous estimate of 5.9%, and forecast 2023 growth at 2.6%, up from 2.5%. The OECD stated that Mexico’s economy was rebounding from the impact of the coronavirus (Covid-19) pandemic, pointing to the manufacturing and services sectors as the main drivers of growth. However, it said that “
challenges remain to ensure the ongoing recovery is sustainable”. Although labour market participation is recovering, the OECD stated it remains below pre-pandemic levels, with informal workers, women and the youth particularly affected. The OECD noted that uncertainty surrounding domestic policy – particularly in relation to the proposed
electricity sector reform – continued to hinder investment.
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