'3rd Covid wave calls for rethinking Mexico's 2021 growth forecast'

Mexico City, Aug 12 (IANS) The third wave of the Covid-19 pandemic in Mexico calls for a reassessment of the country's 2021 economic growth forecast to less than the 6.3 per cent expansion projected earlier, Economy Minister Tatiana Clouthier said.In a virtual press conference to follow up on the Economic Recovery Plan announced in January, Clouthier on Wednesday estimated Gross Domestic Product (GDP) could grow more than 5.5 per cent this year, reports Xinhua news agency."At the beginning of the year, we were talking about a very clear possibility of a rebound and growth above 5 per cent. Then different organisations managed to put the numbers at 6.3 (per cent)," she said."We are now facing a third wave and I think this may lead to a reconsideration. However, expectations continue to be above the 5.5 per cent we proposed at the beginning of the year," she added.The Mexican economy, the second largest in Latin America after Brazil, plummeted 8.3 per cent in 2020, its worst performance since the 1930s, due to the effects of the pandemic.
--IANS ksk/