Economics
Mexico Central Bank Cuts Growth Forecast to 2.2% for 2022
- Bank maintains inflation projection from May policy meeting
- Sees 2.4% growth for 2023, down from 2.9% three months ago
The Bank of Mexico (Banxico) in Mexico City.
Photographer: Alejandro Cegarra/BloombergThis article is for subscribers only.
Mexico’s central bank cut its growth forecast for this year and next, as the country’s recovery continues to sputter amid supply chain shortages and the impact of Russia’s invasion of Ukraine.
Banxico, as the central bank is known, sees gross domestic product expanding 2.2% for this year in the main scenario of its quarterly inflation report released Wednesday. That’s below the 2.4% expected in its previous report three months ago. For 2023, the economy is seen growing 2.4%, also lower than the 2.9% estimated before.