Experts from the Mexican Finance Executives Institute (MFEI) warn of rising uncertainty in Mexico’s economy.
The institute’s president, Jose Figueroa, emphasized this during a recent press event. Conflicts in the Middle East and upcoming U.S. elections are major factors.
These events could change economic policies that affect Mexico.
Figueroa noted that oil price shifts due to these conflicts could have a wide-reaching impact.
Moreover, high interest rates could alter the value of risky assets. Despite this backdrop, Mexico shows strong current economic performance.
Specifically, heavy construction investments are on the rise. Recent MFEI data also reveals some positive trends.
For 2023, the economic growth forecast for Mexico is now 3.2%, slightly up from 3.1%. For 2024, the projection is 2.1%, a small but significant improvement over the earlier 1.9% figure.
Lastly, Mexico’s economy is closely tied to the U.S., its primary trade partner. Any economic shifts in the U.S. could also affect Mexico, which remains alert to these changes.
Background Global Shifts Raise Uncertainty in Mexico’s Economy
Mexico has always had strong economic ties with the U.S. This relationship is crucial for trade and growth.
Over time, U.S. policy changes have often influenced Mexico. Global events, like oil crises, have also played a role.
Mexico has had its own share of economic challenges. These include inflation spikes and currency troubles.
Financial experts like those at MFEI often issue warnings. These serve as important markers in the ongoing story of Mexico’s economy.