Mexican Finance Ministry: Govt expects GDP growth for 2020 between -3.9% and 0.1%

Dhwani Mehta FXStreet

The Mexican Finance Ministry published the government’s growth and inflation forecasts for 2020, with the key highlights found below.

Mexico's government expects 3.5% inflation for 2020 and 3.2% for 2021.

Mexico's government expects GDP uptick for 2021, between 1.5% and 3.5%.

Mexico's government expects GDP growth for 2020 between -3.9% and 0.1%.

Mexican government forecasts average price for Mexican oil basket of $24 per barrel in 2020 and $30 per barrel in 2021.

Mexican government forecasts average oil output of 1.85 mln barrels per day in 2020 and 2.03 mln barrels per day in 2021.

Mexican government forecasts annual inflation of 3.5% for end 2020, 3.2% for end 2021.

Mexico government estimates primary fiscal deficit of 0.4% of GDP in 2020.

USD/MXN reaction

The Mexican Peso shows little reaction to the downbeat Mexican government forecasts, as USD/MXN trades flat at 24.20, at the press time. The spot is consolidating the overnight drop from 24.60 levels amid a rebound in oil prices.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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