International News

MEXICO CITY, (MILLAT+APP/AFP) – The Mexican central
bank slashed the country’s economic growth forecast on Wednesday, citing concerns that US President-elect Donald Trump will make good on his pledge to upend regional trade.
The bank issued a quarterly report that cited the market volatility
and the sharp depreciation of the peso that followed Trump’s victory in the November 8 election.
“The panorama for the world economy has become more complicated as a
result of the electoral process in the United States,” the report said.
The bank lowered its projections to a range of 1.8-2.3 percent in
2016, compared to a previous forecast of 1.7-2.5 percent.
Its outlook for 2017 is more dire, falling from 2.0-3.0 percent to
1.5-2.5 percent. The bank sees a rebound in 2018, with growth ranging between 2.2-3.2 percent.
Mexico could be the nation with the most to lose under the Trump
presidency and the national currency has already felt the effect, breaking the 20 peso per dollar barrier following the election.