World Bank lowers its growth estimate for Mexico to 2.3% for 2024

For the entire region The World Bank predicts that GDP will expand 1.6% in 2024, this from 2.3% in its previous estimate.

Growth of 2.7 and 2.6 is expected for 2025 and 2026. “These are the lowest rates compared to all other regions of the world and insufficient to drive prosperity,” it said in its report.

He highlighted that despite the region's solid macroeconomic management, growth prospects remain low, not only due to global conditions, but also due to structural issues that have never been addressed.

He added that regional growth continues to be hampered by low levels of capital accumulation and long-term productivity growth.

“Despite the enthusiasm around nearshoring, foreign direct investment (FDI) in real terms remains below levels seen twelve years ago, while greenfield investment announcements continue to decline, including in Mexico,” the report reads. World Bank report.

The factors behind these figures include low levels of investment and domestic consumption, high interest rates and high fiscal deficits, falling commodity prices and uncertainty in the prospects of important partners such as the United States, China, Europe and other G7 countries.