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Exports and investment improve the OECD perspective for Mexico

The greater contribution of exports and investments to the Mexican economy will allow this country to maintain growth figures of over 2% in the coming years, according to the OECD, which revised up its prospects for Mexico.

Paris, Nov 28 (EFE) .- The greatest contribution of exports and investments to the Mexican economy will allow this country to maintain growth figures of more than 2% in the next years, according to the OECD, which revised upwards its prospects for Mexico.

In its semi-annual report on Perspectives published today, the Organization for Cooperation and Development Economic (OECD) set the growth forecast for this year at 2.4%, five tenths more than it anticipated in June, while for next year it will be 2.2% (two tenths more).

Looking ahead to 2019, the agency forecasts stable growth at 2.3%.

The Mexican economy will continue to weigh on the high level of As a result of the depreciation of the peso and the liberalization of energy prices, this has a serious impact on the purchasing power of households.

Domestic consumption it is also threatened by credit restrictions stemming from a monetary policy that aims to control the escalation of prices.

Despite this, recent structural reforms and the "successful tenders in the energy sector," says the OECD, should help raise levels of private investment.

The so-called "club of developed countries" alert on the stagnation of poverty and the persistence of "great inequalities", including those of gender, and, while recognizing the achievements of fiscal consolidation, warns at the same time that monetary and fiscal policy "is not supporting growth".

Activity in construction will resume from its historically low current level due to the effects of the devastating earthquake last September, which "has not affected the productive capacity and therefore will not have an impact on production or prices", according to this agency.

OECD recalls Mexico's strong exposure to "external shocks", fundamentally linked to trade with the United States, which intends to renegotiate the free trade agreement of the Americas of the North (NAFTA), which increases the uncertainty in the neighbor of the south.

However, the report emphasizes that they have established "adequate buffers" that make the Mexican economy more resistant.

In addition, he insists that success in free trade negotiations and a strengthened commitment to economic integration would increase confidence, with its effects on investment and productivity.

The OECD also emphasizes the importance of developing the capacities of subnational entities and of providing more resources to justice to fight corruption in the country.

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