Mexico will have a growth of 2.1 %: IMF – lagranepoca

The economic growth mexico is lower (photo by LUIS ACOSTA/AFP/Getty Images)

The International Monetary Fund (IMF) today said that the low performance of the export sector will make the economy of Mexico to grow this year at a rate of 2.1 percent.

The bottom cut as well in four-tenths of a point to its projection of July this year and three tenths to 2017, when it anticipates a slight recovery with an expansion of the mexican economy’s 2.3 percent.

according to Notimex, in its report on Projections for World Economic (WEO, for its acronym in English), the IMF explained that the growth in Mexico "is due to the weak performance of exports during the first half of this year."

In the document, released here in advance of its annual meeting in the fall, the fund said it expects a moderate acceleration in 2017, as the demand for exports will recover, and be able to have rates of 2.9 percent, "once the reforms start to take shape."

last may the IMF Executive board approved a new agreement for two years of the Flexible Credit Line (FCL) to Mexico for 88 billion dollars, and cancelled the previous agreement by 67 billion.

Although the new amount represented an increase of 32 percent compared to the previous agreement, the fund pointed out that the mexican authorities expressed their intention of assigning the agreement a precautionary.

David Lipton, first deputy managing director and acting chair of the IMF board of directors, highlighted then the fact that the mexican economy has shown an impressive resilience in recent years in the context of a slowdown of global growth.

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