MEXICO CITY - Mexico’s economy could contract by almost 13% this year, the central bank warned on Wednesday, after GDP data showed the pandemic lockdown had thrown the country into the deepest slump since the Great Depression.
However, even in the bank’s most optimistic scenario, Latin America’s second-largest economy will be smaller at the end of 2021 than it was before the coronavirus hit.”It is too soon to say when we will return to pre-crisis levels,” central bank Governor Alejandro Diaz de Leon said. The government previously estimated a recovery of the Mexican economy to pre-pandemic levels could be reached in one or two years so long as no new coronavirus outbreaks strike.
Latin America’s largest economy Brazil, by contrast, is forecast to have contracted 9.4% in the second quarter after President Jair Bolsonaro launched a fiscal spending program to deal with the impact of COVID-19. The pandemic, which has infected 568,621 people and killed 61,450 in Mexico, has hit the Mexican economy harder than those of its Latin American peers due in part to “the absence of stimulus measures to mitigate the effects on companies and families,” said Coutino.
i wonder what the ponzi scheme govts of the world are gonna threaten will happen to us now if we dont keep price fixing oil and invading random countries
Tourism will be slow to rebound, drug & people traffickers are being radically slowed to USA. Hopefully USMCA will improve trade.
only cartel gangs are making money in Mexico Obrador had hoped jobs would solve d problems But before manufacturing starts they need security where gangs are in check Who would want to set up biz then getting extortion
Bankers will be like: moar money for Wall Street. Moar, moar.
Corruption is rife.
ah pero ellos tienen otros datos
Tell me something about Africa...😑