Mexico Economic Snapshot
Economic Forecast Summary (May 2021)
The Mexican economy is projected to expand by 5% in 2021 and 3.2% in 2022. Manufacturing exports will support growth benefiting from the strong recovery and policy support in the United States. Private consumption will strengthen gradually, aided by remittances and the rollout of vaccines. Inflation increased in the first half of 2021 due to a low-base effect and higher energy prices, but it is expected to edge down amid large spare capacity. Poverty, inequalities and gender gaps have widened again due to the pandemic.
Reform Priorities (April 2021)
Going for Growth 2021 - Mexico
The pandemic highlighted how recent increases in poverty, inequalities and gender gaps, exacerbate a long-standing challenge to increase inclusiveness. Raising living standards will require boosting productivity growth by improving the business climate, including through fighting corruption and enhancing the skills across the population.
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2021 Structural Reform Priorities
- Competition and regulation: Reduce barriers to competition
- Governance and legal system: Strengthen the efficiency of the justice system and anti-corruption initiatives
- Labour market: Reduce informality and strengthen the social safety net
- Labour market: Boost female participation in the labour market
- Education and skills: Boost education outcomes and equity
Economic Survey of Mexico (May 2019)
Moderate growth over the past two decades has been supported by oil wealth, working age population growth, and open trade and investment policies. A solid macroeconomic framework has delivered fiscal discipline, abated inflation and enabled Mexico to weather well various commodity price and emerging markets shocks