OECD Economic Outlook, Volume 2020 Issue 2
The COVID-19 pandemic will cast a long shadow over the world’s economies and the economic outlook is very uncertain. This issue of the OECD Economic Outlook analyses the impacts of COVID-19 on the economy and puts forward projections for output, employment, prices, fiscal and current account balances.
This issue includes a general assessment of the macroeconomic situation, a series of notes on the current policy challenges related to the COVID-19 pandemic and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.
Mexico
After the sharp decline in 2020, GDP is projected to grow at 3.6% in 2021 and 3.4% in 2022. Economic growth will be led by exports, particularly from manufacturing firms integrated into global value chains. Private consumption will strengthen mildly, aided by robust remittances, a slowly improving labour market and a boost in confidence as an effective vaccine is rolled out. Ample spare capacity will keep inflation contained. The pandemic is causing significant increases in poverty, inequalities and gender gaps.
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