The IMF reduced its growth forecasts for Mexico – CNNExpansión.com

The IMF reduced its growth forecasts for Mexico – CNNExpansión.com

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Tuesday, January 20, 2015 at 07:03

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‘+’ The country will grow 3.2% this year, down 3.5% figure estimated last October; international agency also revised down its forecast for 2016 to 3.5%. ‘+’

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For the IMF, the main Latin American economies will remain depressed.. (Photo: iStock by Getty Images.)

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MEXICO CITY (Reuters) – The International Monetary Fund (IMF) revised down its growth expectations for Mexico in 2015 and 2016.

The international agency predicted that the Gross Domestic Product (GDP) will expand 3.2% this year against 3.5% who estimated last October, according to the latest forecast released this Mondays. For 2016, the bank foresaw a preview of 3.5% compared to 3.8% announced in October.

The IMF also lowered its expectations for growth in Brazil for 2015 and 2016.

For the first case considered an advance of 0.3% because the nation is weakened by the possibility of a withdrawal of capital and the impact of the slowdown in China. This is a decline of 1.1 percentage point from the previous estimate of 1.4%. For 2016, the IMF predicted a Brazilian expansion of 1.5%, 2.2% less than previously estimated.

The document released yesterday by the IMF left no doubt that the major Latin American economies will remain under pressure: if planned in October an advance of 2.2%, in his review he placed that expectation in just 1.3% with a significant cut of almost one percentage point. In addition, lowered its forecast for 2016 by half a percentage point to 2.3%.

The lower oil prices give central banks in emerging economies leeway to delay hikes interest rates, although “the space of macroeconomic policy to support growth remains limited, “the IMF said in its report.

Global Downward revision

The IMF revised downward its global growth forecasts for 2015 and 2016, particularly in China and Russia, Despite the impetus provided by the fall in oil prices.

According to the new provisions of the organism, global GDP will advance 3.5% this year and 3.7% in 2016, with a clear reduction of 0.3 percentage points in relation to the expectations disclosed in October.

“The fall in oil prices-produced largely by increased supply-spur global growth, but that stimulus will be far outweighed by negative factors,” said the bank.

With information from AFP and Reuters

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