LatinNews Daily - 31 January 2024

*Mexico’s deputy finance minister, Gabriel Yorio, has stated that Mexico’s economy will continue to be strong in 2024. In a social media post, Yorio hailed Mexico’s economic performance, signalling annual growth of 3.1% in 2023 “surpassing all expectations”, and indicating the strong economic performance will continue this year. “We expect growth of between 2.5% and 3.5% [in 2024], surpassing for the fourth consecutive year the historic average for the country,” wrote Yorio. The deputy finance minister highlighted other positive macroeconomic indicators last year, including the creation of 1.2m jobs; the reduction of public debt for the third consecutive year to 46.8% of GDP (from 49.4% in 2022); record tax take of 14.2% of GDP; foreign direct investment (FDI) flows of almost US$33bn; reduction of annual inflation to 4.7% (from 7.8% in 2022); and a 15% appreciation of the peso.