MEXICO CITY, July 1 (Xinhua) -- Private analysts estimated that Mexico's economy will grow 5.8 percent in 2021, up from the 5.15 percent previously projected, a survey by the central bank of Mexico revealed on Thursday.
For 2022, analysts raised their forecast for Mexican gross domestic product (GDP) growth to 2.8 percent, up from the previous 2.65 percent, according to the poll of 35 leading financial groups conducted from June 24 to 29.
Regarding inflation, analysts raised their expectations to 5.6 percent from 5 percent by the end of this year, and 3.7 percent by the end of 2022.
Experts also projected an exchange rate of 20.35 Mexican pesos per U.S. dollar at the end of 2021, slightly below the 20.5 Mexican pesos per U.S. dollar estimated in May's survey.
The Mexican economy, the second largest in Latin America after Brazil, contracted 8.3 percent in 2020, its worst performance since the 1930s, due to the effects of the COVID-19 pandemic.
On March 31, the Ministry of Finance raised the growth forecast for the local economy in 2021 to 5.3 percent, while projecting a stronger domestic market as vaccination against COVID-19 progresses. Enditem
