• Fri. May 24th, 2024

Navigating Tough Economic Challenges: Mexico’s Economic Forecast and Crude Exports for 2023 and Beyond

BySamantha Nguyen

Mar 27, 2024
2024 Draft Budget Shows Mexican Economy Expected to Grow Up to 3.5% | The Mighty 790 KFGO

In the coming year, Mexico’s economy is projected to grow between 2.5% and 3.5%, with inflation decreasing to 3.8% this year, aligning with the central bank’s target of 3%, plus or minus one percentage point. The draft budget also predicts a further decrease in inflation to 3.3% in 2025, indicating a slowdown from the 4.40% growth rate in consumer prices seen in February.

According to official data, state-owned oil company Pemex pumped an average of 1.55 million barrels per day of crude in February, marking its lowest level since 1979. This decline has been steadily affecting public finances significantly as crude exports are expected to reach only 967,600 barrels per day this year and decrease to 958,400 barrels per day in 2025.

The draft budget outlines that the peso is expected to trade at around 17.8 pesos per dollar this year and weaken slightly to around 18 versus the U.S currency by

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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