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After recording one of the strongest rates of growth in the OECD area (3.7%), economic growth in Mexico slowed down to 1.3% in 2013, and unemployment increased by 0.1 points (to 5.0% in Q2 2014). GDP growth is expected to return to rates of over 3% in 2014 and 2015, and unemployment is expected to decrease from 5.0% to 4.5% in Q4 2014.
The Municipality of Hermosillo in Mexico shows a 12% progress in the implementation of OECD recommendations to simplify formalities to boost entrepreneurship and create employment.
Specific country notes have been prepared using data from the database OECD Health Statistics 2014, June 2014 version. The notes are available in PDF format.
Mr. Angel Gurría, Secretary-General of the OECD, will be in Mexico, from 19 to 23 June 2014 to attend the Summit of the Pacific Alliance in Punta Mita and the Meeting of the OECD Global Parliamentary Network in Mexico city.
These country notes contain indicators which compare the political and institutional frameworks of national governments as well as revenues and expenditures, employment, and compensation.
The average worker in Mexico faced a tax burden on labour income (tax wedge) of 19.2% in 2013 compared with the OECD average of 35.9%. Mexico was ranked 32 of the 34 OECD member countries in this respect.
Mr. Angel Gurría, Secretary-General of the OECD, was in Mexico from 14 to 16 April 2014, to attend and deliver remarks at the First High Level Meeting of the Global Partnership for Effective Development Co-operation. He also met with several senior officials and delivered a speech at the OECD Seminar on Health Policies in Mexico.
Mexico is upgrading itself, it is modernising its "operating system", generating a virtuous circle that places it amongst the most promising economies in the world. The structural reforms that the government of President Peña Nieto has promoted, together with a solid macroeconomic base, should in principle open up countless opportunities for the country's development, said OECD Secretary-General.
Tax revenues in Latin American countries continue to rise but are lower as a proportion of their national incomes than in most OECD countries. Revenue Statistics in Latin America 2012 shows that Argentina and Brazil have the highest tax revenue to GDP ratio, while Guatemala and Dominican Republic stand at the lower end.
Mr. Angel Gurría, Secretary-General of the OECD, will be in Mexico from 6 to 10 January 2014, to meet with Mr. Enrique Peña Nieto, President of Mexico, and members of his cabinet. He will also deliver remarks at the Conference “Mexico: the International Economic Context and the Importance of Structural Reforms” organised by the Instituto Tecnológico Autónomo de México (ITAM.