The projection comes from the club of rich countries: the growth rate of the Mexican economy for 2024 will be 2.5%, higher than the 2.1 expected in the middle of the year and that of other nations.
In its report “Tackling Inflation and Low Growth”, presented on September 19, the OECD identifies a more resilient global economy than expected in the first half of this year, but with generally weak growth prospects.
For Mexico, the assessment is positive and provides certainty regarding the direction of economic policy. This year, gross domestic product growth is expected to be 3.3%, and next year the growth will be even higher than that of countries like Spain, the United States, Japan, Canada or France.
Read: OECD improves growth forecast for Mexico to 3.3% in 2024
While the rhetoric opposing President Andrés Manuel López Obrador emphasizes economic disaster and the anticipation of a financial crisis, reality does not correspond to these opinions.
A series of indicators on the state of the national economy and the majority of families demonstrate the argumentative weakness of these considerations.
Between December 2021 and August this year, the average salary of workers increased by 21%, inflation is 10.4%, and purchasing power increased by 9.6%. Formal employment increased by 11%.
The central data in the recovery of the purchasing power of Mexican households is that of private consumption, prepared by Inegi, with growth of 6.5%.
To these results, we must add the first benefits of nearshoring, the impact of which will be progressive on investments in Mexico.
The conditions are encouraging to close 2023 with a solid economy and foresee 2024 as the year of consolidation, according to the principles of austerity, efficiency and rationality, without losing the policy of protection of the most vulnerable groups and their guarantee access to social programs.
Mexico is an attractive destination for investment, a situation that will worsen with the reestablishment of Category 1 air safety, resulting in demand for new routes for passengers and cargo, both domestic and international.
Forecasts that take off.
Contact:
Salvador Guerrero Chiprés is president of the Citizens’ Council for Security and Justice of Mexico City.
TW: @guerrerochipres
Twitter: @elconsejomx
The opinions expressed are the sole responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.
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