LatinNews Daily - 09 June 2022

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In brief: OECD lowers growth forecast for Mexico

* The Organisation for Economic Co-operation and Development (OECD) has lowered its growth forecast for Mexico for 2022 and 2023 to 1.9% and 2.1% respectively, down from 2.3% and 2.6% in its previous (February) forecast. According to its report, “consumption will be supported by the gradual improvement in the labour market, remittances, and the increasing share of the population vaccinated” against the coronavirus (Covid-19). The OECD expects that exports will continue to benefit from deep integration in global value chains and a gradual recovery in tourism. Planned public infrastructure projects will benefit investment. The OECD predicts that inflation will stand at 6.9% in 2022 and edge down to 4.4% in 2023.

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