Mexico’s Economic Forecast: Growth, Inflation, Crude Oil Production and Exports in 2021-2025

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

In Mexico, the economy is expected to experience growth between 2.5% and 3.5% this year, with a forecasted expansion of 2.0% to 3.0% in 2025, according to a draft budget from the finance ministry. Inflation is projected to decrease to 3.8% this year, aligning with the central bank’s target of 3%, plus or minus one percentage point. The draft also predicts a further decrease in inflation to 3.3% in 2025, indicating a slowdown from the 4.40% growth rate seen in February.

According to official data, state-owned oil company Pemex pumped an average of only 1.55 million barrels per day of crude in February, marking its lowest level since 1979. Despite this decline, crude exports are expected to reach their highest levels yet at 967,600 barrels per day this year and will decrease slightly to 958,400 barrels per day in 2025.

The peso is expected to trade at approximately equal exchange rates with the U.S dollar at around $17.8 pesos per dollar both this year and in the future predictions for currency exchange rates.

Overall, the draft budget provides valuable insights into Mexico’s economic projections for growth, inflation rates, currency exchange rates and crude oil production and exports for lawmakers planning future spending decisions in the country.

In addition to these projections, it’s worth noting that Pemex has been steadily declining its oil output from its peak of over three million barrels per day two decades ago which has impacted public finances significantly

Sophia Reynolds

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