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LatinNews Regional Monitor: Mexico - 09 March 2017

Economic outlook still contingent on ‘Trump effect’

Mexico’s central bank (Banxico) has revised down its economic growth forecast for Mexico’s domestic economy this year, citing the “continued uncertainty” surrounding the future of Mexico-US economic relations as the main factor behind its decision. This is the second time that Banxico has adjusted its domestic economic growth forecasts for 2017 as result of the election of US President Donald Trump. It shows that despite the assertions by the Mexican government led by President Enrique Peña Nieto that it can build a working relationship with the Trump administration and successfully renegotiate the terms of the North American Free Trade Agreement (Nafta), to make it more beneficial for Mexico and the US, Banxico’s expectation is that bilateral economic relations will suffer under Trump.

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