Private sector experts raised to 1.77% the growth forecast for the Mexican gross domestic product (GDP) for 2022, and raised their annual inflation projection to 7.45%, according to the June monthly survey of the Bank of Mexico.

This growth estimate is slightly higher than that forecast in May, when specialists calculate an increase of 1.76% in the economy for this year, according to the average of the projections of 38 local and foreign analysis groups received between 20 and on June 29.

In contrast, by 2023, experts estimate that the economy will grow by 1.74%, less than the 1.94% forecast a month earlier.

The Mexican central bank's survey also reflected a rise in the general inflation forecast for 2022, which is expected to be 7.45%, a higher forecast compared to the 6.88% estimated in the previous month of May.

Of interest: 3.5 million m² of industrial buildings were leased in the country during the first half of 2022

While for 2023, consumer prices would rise another 4.50%, a figure higher than the 4.40% estimated a month earlier.

The Mexican inflation rate closed in 2021 at 7.36%, its highest level in two decades and more than double the 3% goal of the Bank of Mexico.

Regarding the exchange rate, analysts predicted that the peso will close 2022 at 20.73 units per dollar, while in the previous survey the projected price was 20.92 pesos per US bill.

By the end of 2023, analysts estimate that the Mexican currency will be exchanged at 21.30 units per dollar, a figure lower than the estimate of 21.35 the previous month.

The levels prior to the covid-19 pandemic were close to 18.5 pesos per dollar.

Check here: Greater increases in industrial rental prices are projected for the remainder of 2022

As for the external sector, for 2022, expectations for the trade balance were revised downwards, going from a deficit of 13,680 million dollars to another of 14,344 million dollars.

Meanwhile, they expect it to close 2023 with a deficit of 15,734 million dollars.

The foreign direct investment (FDI) forecast for 2022 was increased from a projection of 30,538 million dollars to a higher one of 31,224 million dollars, while for 2023 its estimate was 30,886 million dollars.

In Solili you can consult offices and warehouse available in Mexico City

Original note