With inflation and insecurity there is no environment conducive to investment.
MEXICO CITY, August 1 (EL UNIVERSAL).- Due to the pressure on consumer prices and public insecurity, analysts consulted by the Bank of Mexico (Banxico) anticipate that this is not the time to make investments and that the business climate will worsen in the remainder of the year.
Hence, the consensus of 38 economic analysis and consulting groups from the national and foreign private sector surveyed by the central bank raised its estimate for the inflation for this year and cut its forecast for the national economy of 2023.
The two main obstacles to mexican economy are of an internal nature with governance where public insecurity and the inflation.
They are anticipating the inflation general will end this year at 7.80% from the 7.50% considered in the previous survey.
For June they expect the inflation overall grow 0.77%.
According to the consensus for 2023, it remained the same at 4.50%, which means that it will continue to be above the goal of inflation of Banxico 3% with an interval of plus/minus one point.
Thus, the funding rate for 2022 will rise to 9.50%, the same level as the previous consultation; the same for 2023 when it remains at 9%.
In this environment, the consensus did not adjust the expectations for the gross domestic product (GDP) for 2022 by keeping 1.80%; only six out of 10 stated that the economy It’s better than a year ago.
However, for 2023 they cut it from 1.90% to 1.60%, although they rule out quarterly falls in GDP during the next year.
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