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With the data available in the third quarter, it is already possible to know that the growth of the Mexican economy in 2019 will be around zero. This is because, as of the last quarter of last year, three consecutive quarters with negative growth were observed, followed by one without growth.
We expect ongoing easing in global uncertainties, and policy support to sustain flows into EMs, mainly those implementing ‘sound’ policies and with stable currencies. However, concerns over underlying vulnerabilities and the potential for further bouts of cross asset volatility will restrain a sharp recovery in EM inflows.
The country only collects 14% of GDP for tax purposes. Not only does this represent the lowest level of all the countries that are part of the Organization for Economic Cooperation and Development (OECD), but it is also lower than the collection levels of most Latin American countries.
The outlook in Latin America in recent weeks has been marked by general elections in Argentina, Bolivia and Uruguay. This is in addition to extensive protests in Ecuador and Chile.
The Colombian economy will continue to consolidate its growth at a slow pace, in a context of strong external headwinds. Globally, our growth forecasts have declined for some of our trading partners due to a more negative external environment.
September 13, 2019
The Mexican financial system has shown an orderly adjustment to a complicated environment
Through the “Financial Stability Report” (REF), Banco de México (Banxico) monitors the main risks and vulnerabilities that could affect the stability of the Mexican financial system.
The Oaxaca Pact aims at attracting investment and create industrial and commercial infrastructure that would translate into greater jobs and GDP growth in the South and Southeast of Mexico.
The recovery of growth in Latin America has not materialized for several quarters and the return to average growth rates above 2% has been consistently delayed. The second quarter of 2019 was no exception.