LatinNews Daily - 03 April 2023

In brief: Mexico’s finance ministry forecasts solid growth

* Mexico’s finance ministry (SHCP) has forecast that GDP will grow by up to 3.0% in 2023 and 2024. In a statement, the SHCP predicts that Mexico’s economy will expand between 2.2% and 3.0% this year, and between 1.6% and 3.0% in 2024. The SHCP states this growth is due to the economic policy of the current government led by President Andrés Manuel López Obrador, which it claims has strengthened the internal market, encouraged public investment, and created conditions needed to make the most of the current nearshoring trend. The SHCP also notes that the government’s fuel subsidy programmes had helped to avoid “an additional increase of four percentage points” to the annual inflation rate. Annual inflation stood at 7.12% in the first two weeks of March.

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