Mexico’s Economy to Experience 2.5% to 3.5% Growth in 2021, Along with Inflation and Crude Oil Production Projections

Draft Budget Reveals Mexican Economy Expected to Grow up to 3.5% in 2024, According to The Mighty 790 KFGO

Mexico’s economy is projected to experience growth of between 2.5% and 3.5% in 2021, according to a draft budget from the finance ministry. This growth forecast for the next year aligns with the central bank’s projection of inflation decreasing to 3.8% this year, which is within its target range of 3%, plus or minus one percentage point.

The draft budget also anticipates that inflation will continue to decrease in the coming years, with a rate of 3.3% expected for 2024 and a projected growth rate of 2.0% to 3.0% in 2025. The Mexican peso is projected to be at an exchange rate of 17.8 pesos per dollar this year, with a slight weakening to 18.0 pesos per dollar in the following year.

Crude oil production in Mexico is expected to slightly increase from its current level of 1.85 million barrels per day in 2021 to reach a production level of approximately 1.86 million barrels per day by the end of next year, according to the forecast outlined in the draft budget.

However, state-owned oil company Pemex’s crude oil output has been declining steadily over time, reaching its lowest level since

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